Hologic acquires Finnish-French company for $795M
Photo | Grant Welker
Hologic's Marlborough headquarters
Marlborough medical device manufacturer Hologic has agreed to acquire the Finnish-French company Mobidiag Oy for $795 million, Hologic announced on Thursday.
Mobidiag is a privately-held, commercial-stage developer of molecular diagnostic tests and instrumentation. Hologic will pay $714 million in cash for Mobidiag’s equity and a net debt of approximately $81 million, according to the announcement.
“One of our key goals is to use our strong cash flow to create a larger, faster growing company for a post-pandemic world,” said Steve MacMillan, Hologic’s chairman, president and CEO, in a statement. “Mobidiag provides an exceptional new growth platform, which will generate long-term value by enabling us to enter the acute care market, which is expected to roughly double in the next five years, with a differentiated, highly competitive solution.”
The acquisition announcement did not detail how the purchase may impact staffing at either company.
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