Hologic Sells Part Of Business
Hologic Inc. of Bedford, which has operations in Marlborough, announced the sale of its Lifecodes business to Georgia-based Immucor Inc.
Hologic, which develops and manufactures medical products for female health care, said it will receive $85 million in cash at closing and will have the opportunity to earn $10 million more, based on certain financial achievements in 2013.
Hologic acquired Lifecodes as part of its purchase of Gen-Probe Inc. in August. Lifecodes sells molecular and antibody-based assays for transplant diagnostics, specialty coagulation and transfusion medicine.
"Our sale of Lifecodes will enable Hologic to focus our resources on diagnostics opportunities that are more in line with our fundamental growth strategies," said president and CEO Rob Cascella.
He said the company will use proceeds from the sale to reduce its debt. The transaction is expected to close during the second quarter.
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