Hologic goes big on infections

Snippets

Hologic’s fourth acquisition this year, that of the Finnish testing group Mobidiag, is its largest since it purchased Cynosure in 2017, and the company will hope that it is a much better bet than that disastrous earlier deal. Hologic, a specialist in women’s health, bought Mobidiag for $714m in cash and took on the private company’s net debt of $81m. Mobidiag makes PCR-based tests for gastrointestinal and respiratory infections, antimicrobial resistance and healthcare-associated infections. Naturally it has Covid-19 tests, but these are only available in Europe so far. Hologic has US emergency authorisation for its own Covid-19 assays, and the vast sales these have accrued over the past year – in the three months up to December 26 its diagnostics revenues were up 450% year on year – have fuelled this year’s deal making. Leerink puts the annual growth rate of the acute care testing market at around 20%, and says Mobidiag can grow at closer to 3% annually once it is in Hologic’s hands. Still, Mobidiag’s sales only came in at $42m last year, so this is a low base from which to grow.

Hologic's M&A, 2017-21
Date Deal type Target Value ($m) Focus
Apr 8, 2021 Acquisition Mobidiag 795 In vitro diagnostics
Mar 1, 2021 Acquisition Diagenode Diagnostics 159 In vitro diagnostics
Feb 22, 2021 Acquisition Biotheranostics 230 In vitro diagnostics
Jan 4, 2021 Acquisition Somatex Medical Technologies 64 General & plastic surgery; radiology
Aug 25, 2020 Acquisition Acessa Health - General & plastic surgery
Aug 1, 2019 Minority stake Supersonic Imagine 18 Diagnostic imaging
Jun 20, 2019 Option Supersonic Imagine 85 Diagnostic imaging
Oct 1, 2018 Acquisition Focal Therapeutics 125 General & plastic surgery; radiology
Jul 31, 2018 Acquisition Faxitron Bioptics 85 Diagnostic imaging
Mar 22, 2017 Acquisition Cynosure 1,650 General & plastic surgery; general hospital & healthcare supply
Source: Evaluate Medtech & company releases.

Related Topics

Share This Article