Hologic Inc., a prominent U.S. medical technology firm, has confirmed its acquisition of Endomagnetics Ltd., a pioneer in breast cancer surgery innovations, for a robust $310 million. This acquisition underscores Hologic’s commitment to broadening its influence in the women’s health arena.
Hologic To Buy UK Rival For $310M : Acquisition Details
The announcement, made on Monday, highlighted that this strategic move by Hologic is subject to standard closing conditions, including necessary regulatory approvals. The specific regulatory bodies involved have not been disclosed yet.
Advising Hologic on this significant transaction is Gibson Dunn & Crutcher LLP. Details regarding legal counsel for Endomagnetics, headquartered in Cambridge, are currently undisclosed.
Strategic Impact on Hologic’s Portfolio
Erik Anderson, President of the Breast and Skeletal Health division at Hologic, expressed that the acquisition is poised to enrich their product lineup, providing a more extensive toolkit to enhance global women’s health outcomes. “Endomagnetics not only complements our existing breast surgery portfolio but also extends our capability to meet the unique needs of a broader patient demographic facing critical breast cancer procedures,” Anderson stated.
