January 7, 2011
Framingham Medical Co. Acquired
Interlace Medical Inc., a Framingham company that makes a system for removing uterine fibroids, has been acquired by Bedford medical device company Hologic Inc. for about $125 million cash, plus contingent payments.
Hologic will integrate Interlace's operations into its GYN Surgical Products division.
The purchase price was $125 million, subject to adjustment, plus two annual contingent payments that will be based on incremental revenue growth.
Interlace recently received a $75,000 tax incentive from the Massachusetts Life Sciences Center to create 10 jobs in the area.
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