As the head of a public company with more than 6,500 worldwide employees and more than $3.3 billion in annual revenue, Stephen MacMillan has held considerable power since he became CEO in 2013. That influence played out in new ways during the coronavirus pandemic, as Hologic was one of the first companies to develop a way to quickly do mass testings for COVID-19 infections in patients.
Advanced types of testing was key to demystifying the disease in the early stages of the pandemic, as well as the effort to control its spread. Demand for products from Hologic’s testing division led its revenues to rise more than 90% in the first quarter of 2021 alone, as the company became a bigger player in this space.
Outside of Hologic’s COVID efforts, MacMillan led the company has it undertook major acquisitions, such as San Diego cancer test company Biotheranostics for $230 million, German biopsy firm SOMATEX Medical Technologies GmbHfor $64 million, and Finnish-French testing and instrumentation company Mobidiag Oy for $795 million. The company continues to diversify its product offerings, a sign of the strength MacMillan has brought to Hologic, which had been struggling before his time as CEO.
