Hologic Inc. (NSDQ:HOLX) said today that it has a $160 million deal to acquire Bolder Surgical, a developer and manufacturer of advanced energy vessel sealing surgical devices.
Louisville, Colorado-based Bolder Surgical’s laparoscopic vessel sealing, dividing and dissecting devices will join Hologic’s surgical portfolio when the deal closes, expected by the end of 2021.
Marlborough, Massachusetts–based Hologic plans to expand Bolder’s pediatric-focused devices to OB-GYN specialists, estimating that there are five times more laparoscopic procedures in OB-GYN applications than in pediatrics.
“We can accelerate growth and improve patient outcomes by leveraging our significant commercial resources and strong relationships with OB-GYNs,” Hologic Surgical Division President Essex Mitchell said in a news release.
It’s the latest deal by Hologic, which has been spending COVID-19 test revenue generated by its diagnostics business on acquisitions across the company’s business lines, as CFO Karleen Oberton and CEO Steve MacMillan recently discussed with Medical Design & Outsourcing.
“This acquisition is another good example of our capital deployment strategy, as we use our strong cash flow to add products that leverage our existing channel strength and accelerate our growth,” MacMillan said in the news release announcing the latest deal.
Bolder Surgical’s investors included River City Capital Funds, Westwood Management and Providence Ventures as of January 2019, when the company raised $27 million and changed its name from JustRight Surgical.
“Becoming part of Hologic and its highly respected and well-known Surgical business is an exciting and pivotal junction for Bolder,” Bolder Surgical President and CEO Robert Kline said in Hologic’s news release. “Together, we will accelerate realizing Bolder’s vision to increase the efficiency of both surgeons and hospitals.