Medical device manufacturer Hologic is going from a publicly traded company to a private business as the Marlborough-based firm is to be acquired for up to $18.3 billion.
Medical device manufacturer Hologic is going from a publicly traded company to a private business as the Marlborough-based firm is to be acquired for up to $18.3 billion by multinational alternative asset managers Blackstone of New York City and TPG of San Francisco.
Stephen MacMillan, president, CEO, and chairman of Hologic
“With their resources, expertise and commitment to women’s health, Blackstone and TPG will help accelerate our growth and enhance our ability to deliver critical medical technologies to customers and their patients around the world,” Stephen MacMillan, Hologic’s chairman, president and CEO, said in a Tuesday press release.
The acquisition will see Blackstone and TPG pay shareholders up to $79 per share: $76 of which is guaranteed, with up to an additional $3 per share contingent on Hologic’s breast health business meeting certain revenue goals in fiscals 2026 and 2027.
“This transaction delivers immediate and compelling value to Hologic stockholders, reflecting the dedication of our employees whose hard work has made this milestone possible,” MacMillan said in the release.
As part of its definitive agreement, Hologic has now entered into a 45-day go-shop period during which the public company may entertain other purchase offers; the manufacturer will be allowed to terminate its agreement with Blackstone and TPG if the company receives a superior bid.
The acquisition is expected to be completed in the first half of 2026, at which time Hologic will be delisted from the Nasdaq stock market. On Tuesday morning, Hologic’s stock was trading at $74.42 per share, an increase of 3.5% since the announcement of the purchase.
The manufacturer will continue to operate out of Marlborough and under the name Hologic.
“Hologic is an outstanding global leader in advancing women’s health, with a longstanding reputation for groundbreaking and high-quality medical device and diagnostic products. We have closely followed the company for many years and long admired the positive impact its life-changing technologies have had for millions of patients worldwide. We are thrilled to partner with its highly talented and capable employees, alongside TPG, to further invest in Hologic’s continued product innovation and growth,” Ram Jagannath, a Blackstone senior managing director, said in the release.
Hologic is using Goldman Sachs & Co. as its financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel, both headquartered in New York City.
Blackstone and TPG are using New York City-based Citi as financial advisor, Chicago-based Kirkland & Ellis as legal counsel and Boston-based Ropes & Gray as healthcare regulatory counsel.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
