Hologic begins French buyout with $18M share purchase
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Hologic's Marlborough headquarters
Medical device maker Hologic has begun the acquisition of French ultrasound manufacturer SuperSonic Imagine with the purchase of 46% of the firm’s shares.
The deal is the first phase of Marlborough-based Hologic’s potential $85 million takeover of the breast, liver and prostate imaging firm. The acquisition agreement was announced in June.
Hologic is looking to bolster its own ultrasound technology in the women’s breast health field by integrating SuperSonic Imagine’s products and intellectual property.
Friday’s transaction included purchasing more than 10.8 million of the firm’s shares largely held by five main shareholders at $1.66 a peice, equating to about $18 million.
Hologic is expected to file a cash tender offer by the end of August for the firm’s remaining shares.
The total price is expected to include about $42 million for all outstanding shares and options and $43 million to repay SuperSonic Imagine’s debt.
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