In one of the biggest healthcare acquisitions of its kind this year, medtech diagnostics specialist Hologic will go private following its sale to Blackstone and TPG in a deal valued at more than $18.3 billion.
Under terms of the deal, the two private equity firms will shell out $76 in cash for all outstanding shares of Hologic. The aggregate purchase price represents a premium of approximately 46% to Hologic’s closing price on May 23, 2025, the company said in an Oct. 22 press release.
Additionally, shareholders qualify for a non-tradable right to receive up to $3 per share more, depending on certain milestones being reached such as global revenue goals for the company’s breast health business in fiscal years 2026 and 2027. If those goals are hit, the potential payout per share could reach $79.
Its shares closed up 2.89% Monday at $71.87 and climbed to $72.15 in after-hours trading. The deal is expected to close in the first half of next year.
“With their resources, expertise and commitment to women’s health, Blackstone and TPG will help accelerate our growth and enhance our ability to deliver critical medical technologies to customers and their patients around the world,” Stephen MacMillan, Hologic’s chairman, president and CEO, said in the release. “This transaction delivers immediate and compelling value to Hologic stockholders, reflecting the dedication of our employees whose hard work has made this milestone possible.”
When the deal is completed, Hologic’s common stock will be delisted from the Nasdaq. Its headquarters will remain in Marlborough, Massachusetts, and the company will continue to operate under the Hologic name and brand.
Included in the deal as a having a “significant minority” investment position is a wholly owned subsidiary of the Abu Dhabi Investment Authority and an affiliate of GIC (Government of Singapore Investment Corporation).
Hologic, which specializes in women’s health diagnostics, released a study earlier this year of its Genius AI Detection 2.0 mammography software.
In the study, the artificial intelligence program correctly identified about 90% of the known, true-positive cases as well as 32% of the previously missed, false-negative cancers. According to the researchers, the program was more likely to detect certain types of tumors and their presentations compared with others.
Those findings indicate the potential of optimizing the imaging algorithms used in breast cancer detection and diagnosis.