2022 Power 50: Stephen MacMillan
Photo | Courtesy of Hologic
Stephen MacMillan, president & CEO of Hologic, Inc., in Marlborough
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Stephen MacMillan took over leadership of medical device manufacturer Hologic in 2013. Since that time Hologic has established itself as a leader in the biomedical industry with $3.8 billion in annual revenue and 7,129 employees worldwide, including 983 in Central Massachusetts.
Revenue in the company surged after it developed testing to detect COVID-19, but even as demand for those products have decreased, MacMillan kept a steady hand on the wheel, still keeping profits at $329 million for the latest fiscal year.
Some of the company’s latest innovations include its Panther Trax used for molecular testing, the NovaSure V5 global endometrial ablation device designed to address abnormal uterine bleeding, and a series of new hysteroscopy procedures like the versatile Omni 30° hysteroscope. In June, Hologic completed an $808-million acquisition of Finnish-French company Mobidiag Oy, bolstering its ability to develop molecular diagnostic tests and instrumentation.
Hologic is focused on women’s health, and diversity health issues have been the basis for the company’s innovative and high-profile marketing campaigns. In 2021 and 2022, Hologic partnered with Oprah Winfrey to shine a spotlight on healthcare equity, collaborated with Grammy-winning singer-songwriter Ciara Wilson to launch an ad encouraging Black women to schedule health exams, and debuted its first consumer television advertisement with a Super Bowl commercial featuring singer-songwriter Mary J. Blige.
In January, Hologic was one of six Central Massachusetts companies to be labeled as “America’s Most Responsible Companies” by the magazine Newsweek, joining the likes of Hanover Insurance Group in Worcester, Virtusa Corp. in Southborough, TJX Cos. in Framingham, Boston Scientific in Marlborough, and Insulet Corp. in Acton. In May 2021, the company announced a $20-million commitment to Project Health Equality, a new initiative aimed at addressing health inequities for Black and Hispanic women.
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