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Hologic beats the Street after an unprecedented year

Hologic (NSDQ:HOLX) posted fourth-quarter results today that handily beat the consensus forecast on Wall Street, concluding an impressive year of growth on the back of robust COVID-19 testing revenue.

The Marlborough, Massachusetts-based diagnostics and women’s health company reported quarterly profits of $328.8 million — or $1.28 per diluted share — on sales of nearly $1.32 billion for the three-month period ended Sept. 25, 2021.

Fourth-quarter sales were down about 2% compared with Q4 2020, and net income was down about 33% in the fourth quarter.

Adjusted to exclude one-time items, quarterly earnings per diluted share were $1.61, 60¢ ahead of Wall Street, where analysts were looking for adjusted EPS of $1.01 on sales of $1.04 billion.

Hologic’s full-year profits came in at $1.87 billion — or $7.79 per diluted share — on sales of nearly $5.63 billion for fiscal 2021. Full-year sales were up about 49% compared with 2020, and net income was up near…

October 2021 Issue: Women in Medtech

How Hologic made a major pandemic pivot: CFO Karleen Oberton reflects on key decisions and turning points of the COVID-19 pandemic.

Insulet CEO Shacey Petrovic is pumped up to launch Omnipod 5

Boston Scientific’s Meghan Scanlon forecasts the future of urology

There is still a long way to go to close the gender leadership gap in the medical device industry, but hope is on the horizon.

Women still account for less than a quarter of all executive leadership roles within the biggest medical device companies in the world, according to our annual analysis in this Women in Medtech edition of Medical Design & Outsourcing.

Just 21% of the executives in the top 100 medical device companies are women — up one percentage point from last year — and the number of those companies with a female CEO remains unchanged at four.

For comparison, about 40% of the 660,000 employees in the medical equipment and supplies manufacturing industry a…

Hologic CEO Steve MacMillan salutes CFO Karleen Oberton, offers his outlook and talks M&A

Hologic CEO Steve MacMillan [Photo courtesy of Hologic]After interviewing Hologic Chief Financial Officer Karleen Oberton for Medical Design & Outsourcing‘s annual Women in Medtech issue, we connected with Hologic CEO Steve MacMillan to get his take.

He offered praise for his finance chief’s leadership throughout the pandemic, shared his outlook for the Marlborough, Massachusetts–based company’s future and discussed the M&A strategy for Hologic (NSDQ:HOLX), which announced its latest deal on Friday.

Get the full story at our sister site, Medical Design & Outsourcing.

Hologic CEO Steve MacMillan salutes CFO Karleen Oberton, offers his outlook and talks M&A

Hologic CEO Stephen MacMillan [Photo courtesy of Hologic]

After interviewing Hologic CFO Karleen Oberton for Medical Design & Outsourcing‘s annual Women in Medtech issue, we connected with CEO Steve MacMillan to get his take.

He offered praise for his finance chief’s leadership throughout the pandemic, shared his outlook for the Marlborough, Massachusetts–based company’s future and discussed the M&A strategy for Hologic (NSDQ:HOLX), which announced its latest deal on Friday.

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

Can you offer your perspective of Karleen’s leadership throughout the pandemic? MacMillan: While already a strong leader, Karleen became an even stronger partner to me and the entire Hologic leadership team through her quick actions, clear communication, and thoughtful i…

Hologic plans to buy Bolder Surgical for $160 million

Bolder Surgical’s Trinity device [Photo courtesy of Bolder Surgical]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 r…

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 launches on-demand molecular testing in Europe

Hologic (Nasdaq: HOLX) announced today that it launched its Novodiag fully automated molecular diagnostic system in Europe.

Marlborough, Massachusetts-based Hologic designed its Novodiag system for the on-demand testing of infectious diseases and antimicrobial resistance. The launch follows the company’s $795 million acquisition of Mobidiag this past summer.

According to a news release, the Novodiag system combines real-time PCR and microarray capabilities to enable multiple pathogens to be identified in a single sample, providing a simple and fast way to pinpoint patients most at risk with targeted and syndromic on-demand testing.

Novodiag’s CE-IVD test menu includes on-demand assays for gastrointestinal infections and antibiotic resistance along with a targeted assay for detecting SARS-CoV-2, the virus causing COVID-19. The company touts a strong pipeline currently in development, too.

The platform complements Hologic’s Panther…

Hologic expands Omni hysteroscopy offering in Europe

Hologic (Nasdaq: HOLX) announced today that it has expanded its Omni suite of gynecological surgical offerings in Europe, Africa and western Asia.

The Omni expansion gives physicians greater flexibility and choice as they optimize diagnostic and operative hysteroscopy, according to the Marlborough, Massachusetts–based women’s health company.

“The option to ‘see and treat’ is becoming more common across Europe. There is an increasing awareness of the benefits of moving these types of procedures to the outpatient environment, and this has been further highlighted by the pandemic,” said Tanja Brycker, VP of strategic development BSH & Surgical – International at Hologic.

Brycker said in a news release that gynecologists need to have access to a broader range of products that enable them to adapt quickly to the requirements of each patient. “Hologic has consulted extensively with our customers, and the latest add…

Holigic’s first Global Women’s Health Index flags preventative care for improvement

[Photo courtesy of Hologic]An estimated 1.5 billion women have not been tested in the past year for critical diseases, according to Hologic’s first Global Women’s Health Index.

On behalf of diagnostic maker Hologic, the Gallup World Poll surveyed more than 60,000 women and girls (age 15 and older) across the world to measure action and attitudes about women’s health, focusing on preventive care, opinions of health and safety, emotional health, individual health and basic needs.

Those five factors explain more than 80% of women’s average life expectancy at birth and are used in the Global Women’s Health Index to rank countries and territories, Hologic said in a news release. For example, heart disease is the leading cause of death globally, but only about one in three women are estimated to have had their blood pressure tested in the last 12 months.

Get the full story at our sister site, Medical Design & Outsourcing.

Holigic’s first Global Women’s Health Index flags preventative care for improvement

[Photo courtesy of Hologic)

An estimated 1.5 billion women have not been tested in the past year for critical diseases, according to Hologic’s first Global Women’s Health Index.

On behalf of diagnostic maker Hologic, the Gallup World Poll surveyed more than 60,000 women and girls (age 15 and older) across the world to measure action and attitudes about women’s health, focusing on preventive care, opinions of health and safety, emotional health, individual health and basic needs.

Those five factors explain more than 80% of women’s average life expectancy at birth and are used in the Global Women’s Health Index to rank countries and territories, Hologic said in a news release. For example, heart disease is the leading cause of death globally, but only about one in three women are estimated to have had their blood pressure tested in the last 12 months.

“Preventive measures are a crucial first step to…

MedTech 100 roundup: Industry climbs with earnings season in full swing

The medtech industry remains on the upswing as companies see their stocks rising with quarterly earnings providing a boost.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (July 30) at 118.86 points. Two weeks ago aside — when the index shot up to 145.88 points and quickly tumbled down — this mark would be the index’s all-time best.

The total at the end of last week represents a 2.9% rise from the 115.54-point tally posted by the index at the end of last week (July 23).

Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 28.7% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020). Moreover, it remains well ahead of the mid-pandemic low of 62.13 (March 23, 2020) as well, totaling a 91.3% ascent above that point.

The industry’s performance had no cor…

Hologic beats The Street in Q3 results

Hologic (NSDQ:HOLX) this week posted third-quarter results that beat the overall consensus on Wall Street.

The Marlborough, Mass.-based company reported profits of $268.1 million, or $1.04 per share, on sales of $1.2 billion for the three months ended June 26, for a bottom-line gain of 96.6% on sales growth of 41.97% compared with Q3 2020.

Adjusted to exclude one-time items, earnings per share were $1.33, 21¢ ahead of The Street, where analysts were looking for sales of $1.04 billion.

“Hologic posted very strong financial results in our third fiscal quarter, with both revenue and EPS growth exceeding our guidance,” president and CEO Steve MacMillan said in a news release. “Our base businesses showed strong momentum and we continued to make a big difference against the COVID pandemic. And we used our strong cash flows to strengthen the company for the future by finalizing the Mobidiag acquisition.”

Hologic is expecting fourth-quarter revenue to be…