MA-HOLOGIC-INC.
Hologic, Inc. (Nasdaq: HOLX), a global leader in women’s health, today announced that it signed a definitive agreement to acquire Endomagnetics Ltd (Endomag®), a privately held developer of breast cancer surgery technologies, for approximately $310 million, subject to working capital and other customary closing adjustments.
“Endomag’s suite of solutions complements our existing breast surgery portfolio and will provide surgeons and radiologists with an expanded range of options to meet the individual needs of more patients undergoing critical breast cancer procedures,” said Erik Anderson, President of Breast and Skeletal Health Solutions at Hologic. “With a global footprint and a similar commitment to women’s health, we are excited about the potential of welcoming the Endomag team and our future opportunities together to increase access to these technologies and better serve patients across the breast health continuum of care.”
Endomag, which is based in Cambridge, United Kingdom, develops and sells breast surgery localization and lymphatic tracing technologies. Its products include the Magseed® marker for magnetic tissue localization before surgery, the Magtrace® lymphatic tracing injectable for breast cancer staging and the Sentimag® platform, which supports both localization and lymphatic tracing.
“We are delighted to attract the strength and focus of Hologic to power the next phase of our growth,” said Eric Mayes, CEO of Endomag. “Our team is encouraged by our cultural alignment and the potential to strengthen a broader portfolio of solutions to improve women’s health globally.”
Endomag generated approximately $35 million of revenue in calendar 2023. The acquisition is expected to be slightly dilutive to Hologic’s non-GAAP earnings per share in fiscal 2024, break even in 2025 and accretive thereafter.
Completion of the acquisition is subject to customary closing conditions, including regulatory approvals.
About Hologic, Inc.
Hologic, Inc. is a global medical technology innovator focused on improving the health and well-being of women, their families and communities through early detection and treatment. Its advancements include invention of the world’s first commercial 3D mammography system to find breast cancer earlier; leadership in testing for cervical cancer, sexually transmitted infections and respiratory illnesses; and minimally invasive surgical technologies for uterine fibroids and abnormal uterine bleeding. The company also champions women through the Hologic Global Women’s Health Index, which provides a science-backed data framework for improving women’s well-being.
For more information about the company, visit www.Hologic.com.
About Endomag®
Endomag® is a medical technology company devoted to improving the global standard of care for breast cancer. At the heart of Endomag’s product platform is the Sentimag® localization system, a non-radioactive surgical guidance platform that offers both tissue localization and breast cancer staging in one platform. The Sentimag® uses a probe that works like a metal detector and is used to detect Endomag’s magnetic seed (Magseed®) and liquid tracer (Magtrace®) for removing tumors and performing minimally invasive staging procedures.
Non-GAAP Financial Measures
This press release discusses non-GAAP EPS, which is a non-GAAP financial measure. The Company’s definition of non-GAAP EPS may differ from similarly titled measures used by others. The Company defines its non-GAAP EPS presented in this press release to primarily exclude the amortization of intangible assets, acquisition- and integration-related charges, and income taxes related to such adjustment.
Non-GAAP EPS adjusts for specified items that may be non-cash, or can be highly variable or difficult to predict. In the context of forward-looking statements, the non-GAAP financial measures facilitate period-to-period comparisons by excluding the effects of events that have occurred in the past or may occur in the future and have accounting consequences that can mask underlying operational trends, such as acquisitions, restructurings, debt extinguishment and impairments.
This non-GAAP financial measure should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP. Because non-GAAP financial measures exclude the effect of items that will increase or decrease the Company’s reported results of operations, management encourages investors to review the Company’s consolidated financial statements and publicly filed reports in their entirety.
Future GAAP EPS may be affected by changes in ongoing assumptions and judgments, and may also be affected by non-recurring, unusual or unanticipated charges, expenses or gains, which are excluded in the calculation of the Company’s non-GAAP EPS as described in this press release.
When Hologic provides its expectations for non-GAAP EPS on a forward-looking basis, a reconciliation of the differences between these non-GAAP expectations and the corresponding GAAP measures is not available without unreasonable effort because Hologic has not estimated the fair value of the assets and liabilities expected to be acquired in the transaction. Nor has the Company determined the fair value of acquired intangible assets and related annual amortization expense that would be required in order to provide the corresponding GAAP measure. The variability of the items that have not yet been determined may have a significant, and potentially unpredictable, impact on Hologic’s future GAAP results.
Forward-Looking Statements
This news release may contain forward-looking information that involves risks and uncertainties, including statements about the use of Hologic and Endomag products and Hologic and Endomag plans, objectives, expectations and intentions (including financial or other information based upon or otherwise incorporating judgments or estimates relating to future performance, events or expectations; each company’s strategies, positioning, resources, capabilities, and expectations for future performance; and each company’s outlook and financial and other guidance). There can be no assurance these products will achieve the benefits described herein or that such benefits will be replicated in any particular manner with respect to an individual patient, as the actual effect of the use of the products can only be determined on a case-by-case basis. In addition, there can be no assurance that these products will be commercially successful or achieve any expected level of sales. These forward-looking statements are based upon assumptions made as of this date and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated.
Risks and uncertainties that could adversely affect either company’s business and prospects, and otherwise cause actual results to differ materially from those anticipated, include without limitation: the possibility that the anticipated benefits from the proposed transaction or products cannot be fully realized or may take longer to realize than expected; the possibility that costs or difficulties related to the integration of Endomag operations with those of Hologic will be greater than expected; the ability of Hologic and Endomag to retain and hire key personnel; the coverage and reimbursement decisions of third-party payers and the guidelines, recommendations, and studies published by various organizations relating to the use of products and treatments; the ability to successfully manage ongoing organizational and strategic changes, including Hologic’s ability to attract, motivate and retain key employees; the development of new competitive technologies and products; regulatory approvals and clearances for products or the proposed transaction; the anticipated development of markets in which products are sold into and the success of products in these markets; the anticipated performance and benefits of products; estimated asset and liability values; anticipated trends relating to Hologic’s financial condition or results of operations; and Hologic’s capital resources and the adequacy thereof.
The risks included above are not exhaustive. Other factors that could adversely affect Hologic’s business and prospects are described in Hologic’s filings with the SEC. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements presented herein to reflect any change in expectations or any change in events, conditions or circumstances on which any such statements are based.
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.
Source: Hologic, Inc.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240429961559/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Andersen Global tilføjer større bredde til sit fodaftryk i Europa med Allyum i Belgien8.2.2025 14:17:00 CET | Pressemeddelelse
Andersen Global styrker sin platform i Europa gennem en samarbejdsaftale med Allyum, et førende Mergers & Acquisitions (M&A) firma i Belgien, hvilket betyder en endnu bredere skattemæssig og juridisk platform i regionen. Fra stiftelsen i 2004 har administrerende direktør Raphaël Abou, Allyum, specialiseret sig i omfattende finansielle tjenester til mid-cap virksomheder med et specifikt fokus på styring fra start til slut af transaktioner på salgssiden. Firmaet er eksperter inden for fusioner og opkøb, private investeringer, børsnoteringer, corporate venturing, aktionæromstrukturering samt finansiel analyse og planlægning. "I løbet af det seneste årti har vi hjulpet hundredvis af virksomheder med at foretage deres transaktioner og udviklet fremragende relationer med investeringsfondene i vores region," siger Raphaël. "Vores samarbejde med Andersen Global bliver en spændende mulighed for at anvende vores omfattende tilgang til finansiel rådgivning gennem den bedste globale platform." "Vi
Duravant to Acquire Pattyn, Provider of Packaging Automation Systems for Bulk and Industrial Applications7.2.2025 15:00:00 CET | Press release
Automation solutions leader Duravant has signed a definitive agreement to acquire Pattyn. Duravant LLC (“Duravant”), a global engineered equipment and automation solutions provider to the food processing, packaging and material handling sectors, announced today that it has entered into a definitive agreement to acquire the Pattyn Group BV (‘Pattyn”), a designer and manufacturer of automation systems specializing in B2B packaging. Pattyn is recognized as the premier leader for delivering comprehensive automation solutions and value-added services for bag-in-box packaging applications. Headquartered in Bruges, Belgium, Pattyn has over 70 years of expertise in machinery design and turnkey systems for counting, weighing, filling, and packing technologies for food, ingredients, and various non-food sectors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250207117623/en/ “We are extremely excited to partner with Pattyn,” said Mike
Leclanché and Pinnacle Advance Strategic Partnership – Milestone Reached with Successful Completion of Due Diligence7.2.2025 09:50:00 CET | Press release
Pinnacle International Venture Capital Limited (Pinnacle) completes legal, financial and technical due diligence review of Leclanché to its satisfaction. The parties will work to address the due diligence items list identified by Pinnacle within a 6 months’ timeframe. As a next step, Pinnacle will undertake a comprehensive engineering review to optimise resource deployment and strategic alignment, while both parties collaborate to secure a restructuring exemption from the Swiss Takeover Board. Pinnacle intends to provide funding as previously announced through the Joint Venture (JV) for Leclanché’s ongoing business and an expansion of up to 2 GWh/yr of Leclanché's production facility in Willstätt and an amount yet to be established for a new up to 2 GWh/yr production facility in the Middle East. The final investment amount and detailed investment structure are subject to final agreement by the parties. Pinnacle may propose some changes based on the outcome of the engineering review and
Salience Labs Closed Series A Round Led by Applied Ventures and ICM HPQC Fund7.2.2025 09:14:00 CET | Press release
Appointment of Dr. William Jeffrey to the Board and Bonnie Tomei as CFO Salience Labs Limited, a leader in photonic solutions targeting connectivity for AI datacenter infrastructure, today announced the successful close of $30 million in Series A financing led by ICM HPQC Fund and Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., to further the development of its optical switches for large scale AI connectivity. Applied Ventures and ICM HPQC Fund are joined by Strategic Investment Fund, Braavos, and continued participation from existing investors Oxford Sciences Enterprises, Cambridge Innovation Capital, and leaders from the global semiconductor industry including Silicon Catalyst and Jalal Bagherli. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250207290130/en/ Image by Shabbir Bashar “What our customers want is a photonic switch to connect their AI clusters that is compatible with existing infrast
Japan Sake and Shochu Makers Association Announces 2024 Sake Export Data: Record-High Exports to 80 Countries, Up 6% YoY7.2.2025 04:00:00 CET | Press release
2024 Sake Export Performance This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250205320328/en/ More people around the world are enjoying Japanese sake (Photo: Business Wire) The Japan Sake and Shochu Makers Association (JSS) has released 2024 sake export data. The total export value reached JPY 43.5 billion, a +6% increase from the previous year, with 3.45 million cases (9L equivalent) shipped to a record 80 countries. Since 2020, export value has grown 1.8 times, the average unit price increased 1.3 times, and the number of export destinations expanded by 19. Premium sake markets have seen significant growth in the past five years. Regionally, Asia accounted for 61% of total export value but saw a slight decline YoY. However, South Korea recorded a notable 29% growth, while Thailand and Malaysia also performed well. North America saw a 27% increase, driven by fine-dining adoption. Western Europe grew 18% YoY, expanding 2.5 ti
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom