Diagenode Archives - Medical Design Sourcing

How Hologic made a major pandemic pivot

Hologic Chief Financial Officer Karleen Oberton [Photo courtesy of Hologic]

Hologic CFO Karleen Oberton reflects on key decisions and turning points of the COVID-19 pandemic.

Hologic’s fiscal year closes in September, but Chief Financial Officer Karleen Oberton had seen enough by late July to call it: 2021 would be the best financial year ever.

Oberton and the women’s-health-focused company have come a long way since sketching out doomsday scenarios in March 2020.

“We quickly went from counting every penny to these exponential sales on the COVID testing,” Oberton said in an interview with Medical Design & Outsourcing.

She shared the company’s path through the pandemic, ramping up its diagnostics business to support and grow its surgical and breast health lines for the post-pandemic future.

“While already a strong leader, Karleen became an even str…

Hologic EPS trails the consensus forecast

Hologic (NSDQ:HOLX) posted second-quarter results today that trailed the consensus forecast, but the company forecasts a strong third quarter fueled by strong COVID-19 test revenue.

The Marlborough, Mass.-based company posted profits of $1.09 billion, or $2.38 per share, on sales of $1.54 billion for the three months ended March 27, 2020. Sales growth in the quarter was 103.4% year-over-year for a 40.3% bottom-line gain.

Adjusted to exclude one-time items, earnings per share were $2.59, three cents beneath the consensus forecast of $2.62 per share on sales of $9.9 million.

“Hologic posted very strong financial results in our second fiscal quarter in line with our guidance,” said Steve MacMillan, the company’s CEO. “Organic revenue doubled, driven by strong recovery and momentum in our base businesses, as well as our continued response to the COVID-19 pandemic. And earnings per share more than quadrupled.”

The company is upb…

Hologic acquires molecular diagnostic company for $159M

Hologic today announced that it acquired molecular diagnostic company Diagenode for $159 million.

Through the deal, Hologic will pay $159 million, subject to working capital and other customary closing adjustments.

European Daigenode develops molecular diagnostic assays and epigenetic products. It has more than 30 real-time PCR tests that are CE-marked to detect bacteria, parasites and viruses in sexually transmitted infections, respiratory diseases, meningitis and gastroenteritis.

“Acquiring Diagenode further strengthens our molecular diagnostics business by expanding our international capabilities, improving our regional time-to-market, and allowing us to offer a broader, more differentiated test menu,” Hologic international president Jan Verstreken said in a news release. “Diagenode has been a great partner since 2016, helping us develop and manufacture PCR-based assays for Panther Fusion. Now we look forward to accelerating and broadening those…