Hologic, Inc. (Nasdaq: HOLX), a global leader in women's health, announced today it has completed the acquisition of Faxitron Bioptics, a privately-held leader in digital specimen radiography, for approximately $85 million.
The transaction, which closed today, broadens Hologic's Breast Health product portfolio and expands the Company's role in the clinical continuum of care for breast cancer patients. Specifically, Faxitron's products and channel will enable Hologic to play a larger role in breast conserving surgery, an adjacent growth market for the Company's interventional breast business.
"Faxitron, like Hologic, has built a strong brand focused on improving the patient experience with market-leading products from digital specimen radiography to breast lesion localization to sentinel lymph node biopsy solutions," said Pete Valenti, Hologic's Division President, Breast and Skeletal Health Solutions. "Together, we will extend our shared focus on innovation and expand our ability to improve breast health along each step of the patient's journey, which begins with our market-leading mammography solutions."
Faxitron markets a broad portfolio of products across major categories including digital specimen radiography, breast lesion localization, and sentinel lymph node biopsy. The company sells its products mainly to breast surgeons and pathologists. The company has a history of organic innovation, most recently with the introduction of VisionCT®, the world's first 3D breast specimen-designated CT system to offer 360-degree images of excised lesions.
"Acquiring Faxitron is consistent with our capital deployment goals," said Steve MacMillan, Hologic's Chairman, President and Chief Executive Officer. "This is a great tuck-in acquisition that leverages our existing strength in the breast health channel, while providing attractive growth and return on invested capital."
Faxitron generated approximately $27 million of revenue in their last fiscal year. The acquisition is expected to be roughly neutral to Hologic's non-GAAP earnings per share for the remainder of fiscal 2018 and fiscal 2019, and is expected to be accretive thereafter.
About Hologic, Inc.
Hologic, Inc. is an innovative medical technology company primarily focused on improving women's health and well-being through early detection and treatment. For more information on Hologic, visit www.hologic.com.
Hologic and The Science of Sure are trademarks and/or registered trademarks of Hologic, Inc. and/or its subsidiaries in the United States and/or other countries.
About Faxitron Bioptics, LLC
As a global leader and pioneer for best-in-class digital imaging systems, Faxitron is dedicated to helping healthcare providers and researchers achieve their vision for a better, healthier world at large. Through the continuous innovation and advancement of imaging technologies, Faxitron aims to elevate the standard of care in medicine and the standard of quality in life science research. With applications spanning from breast surgery to pathology imaging, and from preclinical imaging to non-destructive testing, Faxitron is building a comprehensive portfolio of solutions that sets new standards for precision and quality in the industry.
