Hologic has officially gone private.
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Hologic has officially gone private. The Marlborough-based medical device manufacturer has been acquired for $18.3 billion and named Joe Almeida as the company’s new CEO, effective immediately.
Hologic’s acquisition by multinational alternative asset managers Blackstone of New York City and TPG of San Francisco was completed Tuesday, according to a filing with the U.S. Securities and Exchange Commission. The medtech firm had originally announced its plans to be acquired on Oct. 21.
Under the purchase agreement, Hologic stockholders will receive $76 per share in cash with the ability to receive up to an additional $3 per share, the company announced Tuesday.
Hologic will continue to operate under its name and remain headquartered in Marlborough. The company generates $4.1 billion in annual revenue and employs 7,300 people worldwide.
The manufacturer is no longer trading on the Nasdaq and is set to be delisted.
With the acquisition complete, former chairman, president, and CEO Stephen MacMillan has retired, with Almeida stepping in as CEO.
Almeida comes to Hologic having most recently served as chairman, president, and CEO for nine years at Baxter International, a medical device manufacturer out of Illinois.
Previously, he worked as chairman, president, and CEO of Covidien, a medical device manufacturer acquired by Minneapolis-based Medtronic in 2015. Before that, he held senior management positions at companies including Mansfield-based Tyco Healthcare and Codman & Shurtleff, a now-shuttered division of Johnson & Johnson.
Almeida earned his bachelor’s degree from Instituto Mauá de Tecnologia in Brazil.
Founded in 1985, Hologic specializes in medical devices supporting women’s health, including mammography systems and cervical cancer screening tests.
With 413 local employees, the firm is the 13th-largest manufacturer in Central Massachusetts, according to the WBJ Research Department.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
