The Deal That Defines a Dealmaking Wave
The acquisition arrives amid a surge in global M&A activity, marking 2025’s strongest showing since 2021. Even as smaller transactions lag, private equity megadeals are shaping the new corporate landscape.
Recent examples include a BlackRock-led consortium’s $40 billion acquisition of Aligned Data Centers and Walgreens Boots Alliance’s $23.7 billion sale to Sycamore Partners. Similarly, Novo Holdings’ $16.5 billion takeover of Catalent earlier this year underscored the sector’s appetite for large-scale buyouts.
“Hologic is an outstanding global leader in advancing women’s health,” said Ram Jagannath, senior managing director at Blackstone.
Dr. John Schilling, co-managing partner at TPG Capital, added, “This is a compelling opportunity to draw upon our deep thematic expertise to support next-generation healthcare solutions.”
Deal Structure and Legal Advisors
The deal, unanimously approved by Hologic’s board, is expected to close in the first half of 2026, pending regulatory and shareholder approval.
Goldman Sachs is serving as financial adviser to Hologic, while Citigroup advises the buyers. Fried Frank Harris Shriver & Jacobson LLP, led by partners Roy Tannenbaum and Philip Richter, counsels Goldman.
Sidley Austin LLP, with partners Ayo Badejo and Asi Kirmayer, represents GIC, the Singapore sovereign wealth fund managing the nation’s foreign reserves.
The Wachtell Lipton team includes partners Adam O. Emmerich and Benjamin M. Roth, while Kirkland & Ellis fields partners Lauren Colasacco, Chris Burwell, and Daniel Yip.
