Hologic to acquire Ariz. breast health firm for $85M; profits rise 90%
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Hologic's Marlborough location
Marlborough medical imaging giant Hologic will acquire breast health imaging company Faxitron Bioptics for $85 million.
The acquisition of the Arizona-based digital radiography firm will bolster Hologic’s breast health portfolio, specifically enabling Hologic to play a larger role in non-mastectomy breast surgery, which Hologic called an adjacent growth market of the company’s interventional breast business.
Faxitron boasts a broad range of product categories, including digital specimen radiography, breast lesion localization and sentinel lymph node biopsy. Products in those categories are sold to breast surgeons and pathologists.
In an announcement of the acquisition, Hologic noted Faxitron’s 3D product providing 360-degree images of excised lesions.
"Acquiring Faxitron is consistent with our capital deployment goals," said Steve MacMillan, Hologic's chairman, president and CEO. "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, with revenues of $27 million last year, will be absorbed by the much larger Hologic, which on Tuesday reported third quarter revenues of $824 million and net income of $112.9 million, increases of 2.2 percent and 89.7 percent, respectively.
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