MARLBOROUGH, Mass.--(BUSINESS WIRE)-- Hologic, Inc. (Nasdaq: HOLX), a global leader in women’s health, today announced that it signed a definitive agreement to acquire Endomagnetics Ltd (Endomag®), a privately held developer of breast cancer surgery technologies, for approximately $310 million, subject to working capital and other customary closing adjustments.
"Endomag’s suite of solutions complements our existing breast surgery portfolio and will provide surgeons and radiologists with an expanded range of options to meet the individual needs of more patients undergoing critical breast cancer procedures.
With a global footprint and a similar commitment to women’s health, we are excited about the potential of welcoming the Endomag team and our future opportunities together to increase access to these technologies and better serve patients across the breast health continuum of care.”
- Erik Anderson, President of Breast and Skeletal Health Solution
Endomag, which is based in Cambridge, United Kingdom, develops and sells breast surgery localization and lymphatic tracing technologies. Its products include the Magseed® marker for magnetic tissue localization before surgery, the Magtrace® lymphatic tracing injectable for breast cancer staging and the Sentimag® platform, which supports both localization and lymphatic tracing.
"We are delighted to attract the strength and focus of Hologic to power the next phase of our growth. Our team is encouraged by our cultural alignment and the potential to strengthen a broader portfolio of solutions to improve women’s health globally."
- Eric Mayes, CEO, Endomag Ltd.
Endomag generated approximately $35 million of revenue in calendar 2023. The acquisition is expected to be slightly dilutive to Hologic’s non-GAAP earnings per share in fiscal 2024, break even in 2025 and accretive thereafter.
Completion of the acquisition is subject to customary closing conditions, including regulatory approvals.
About Hologic, Inc.
Hologic, Inc. is a global medical technology innovator focused on improving the health and well-being of women, their families and communities through early detection and treatment. Its advancements include invention of the world’s first commercial 3D mammography system to find breast cancer earlier; leadership in testing for cervical cancer, sexually transmitted infections and respiratory illnesses; and minimally invasive surgical technologies for uterine fibroids and abnormal uterine bleeding. The company also champions women through the Hologic Global Women’s Health Index, which provides a science-backed data framework for improving women’s well-being.
For more information about the company, visit www.Hologic.com.
About Endomag®
Endomag® is a medical technology company devoted to improving the global standard of care for breast cancer. At the heart of Endomag’s product platform is the Sentimag® localization system, a non-radioactive surgical guidance platform that offers both tissue localization and breast cancer staging in one platform. The Sentimag® uses a probe that works like a metal detector and is used to detect Endomag’s magnetic seed (Magseed®) and liquid tracer (Magtrace®) for removing tumors and performing minimally invasive staging procedures.