Hologic Archives - Page 7 of 9 - Medical Design Sourcing

Hologic to acquire Mobigiag in $795M deal

Hologic (NSDQ:HOLX) announced today that it entered into a definitive agreement to acquire diagnostic developer Mobidiag Oy for $795 million.

Finland/France-based Mobidiag develops and markets PCR-based tests for acute care conditions including gastrointestinal and respiratory infections, antimicrobial resistance management and healthcare-associated infections.

Mobidiag’s Amplidiag and Novodiag platforms are automated instruments that deliver rapid turnaround times ranging from 50 minutes to two hours, according to a news release. The Novodiag platform combines real-time PCR and microarray capabilities to provide multiplexing, allowing for multiple pathogens to be identified in a single sample.

Marlborough, Mass.-based Hologic is acquiring the company for an enterprise value of approximately $795 million, which includes a cash payment of approximately $714 million for Mobidiag’s equity and net debt of approximately $81 million.

“One of…

DTW Podcast – CEO MacMillan on how COVID-19 strengthened Hologic

Hologic CEO Steve MacMillan says in early March 2020 he didn’t appreciate how COVID-19 would change the world forever. But the diagnostics company quickly rose to the challenge, becoming one of the surer suppliers of diagnostic tests needed to chart the Coronavirus’ severity.

In this DeviceTalks Weekly Podcast, MacMillan shares how Hologic pivoted to meet the calls for help from political leaders in the US and around the world.

He also shares what’s next for the company which has shed its aesthetics business in favor of a tighter new course, a course that includes the creation of an innovative information index that will yield new data on women’s health.

While Hologic rose to the challenge during the pandemic, GuardianLane is ready to help children who are coping with grief, including the loss of loved ones to COVID-19 and other diseases.

CEO Kristina Jones shares the story that won the first pitch contest held by Medtech Color, an organization fo…

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…

Hologic completes Biotheranostics acquisition

Hologic (NSDQ:HOLX) announced that it completed its previously announced acquisition of Biotheranostics for $230 million.

Marlborough, Mass.-based Hologic last month announced that it was set to buy Biotheranostics and its two molecular diagnostic tests for breast and metastatic cancers, the Breast Cancer Index and CancerTYPE ID. Both laboratory-developed tests are not required to be cleared by the FDA.

Biotheranostics’ tests are PCR-based gene expression tests that have been validated in large studies in areas of oncology with unmet needs and high growth potential, Hologic said.

“We are very pleased to complete the acquisition of Biotheranostics and look forward to working with our new colleagues to grow in the large, rapidly expanding oncology space,” Hologic president of diagnostic solutions Kevin Thornal said in a news release. “We are even more excited about the acquisition because last month the National Comprehensive Cancer Network (NCCN) re…

Hologic and Google Cloud team up on digital diagnostics for cervical cancer

Hologic (NSDQ:HOLX) has entered into a multi-year deal to use Google Cloud’s machine learning and deep learning technologies with its Genius digital diagnostics system, a cytology platform that uses volumetric imaging data to identify precancerous lesions and cancer cells of the cervix.

The machine learning and deep learning capabilities from Google Cloud will enable Hologic to build on its more than three decades of experience in cervical cancer screening, according to Kevin Thornal, president of Hologic’s Diagnostic Solutions division. “Enhancing our use of AI with Google Cloud’s machine learning capabilities and cloud architecture is the next natural step in this journey forward,” he said in a statement.

Genius Digital Diagnostics is CE-marked for use in Europe. It is not yet available in the U.S.

The FDA is currently overhauling how it regulates machine learning-based software for medical device applications.

In related news, Hologic recently …

MedTech 100 roundup: January ends with a dip

After spending several weeks on the ascent, medtech stocks leveled out a bit to end January, ending a run of several new highs in 2021.

MassDevice‘s MedTech 100 index ended the week (Jan. 29) at 104.05 points, marking a -2.2% drop from the 106.4-point mark set at the end of the previous week (Jan. 22).

The index had previously reached 107.4 points on Jan. 20, topping the all-time best of 106.81 points set on Jan. 8. That mark represents a 16% jump from the pre-pandemic high of 92.32 set on Feb. 19, 2020, and a 72.9% overall leap from the lowest point of 62.13 set on March 23, 2020.

However, the drop from that high point to medtech’s current position is approximately -3.1%, although the industry still remains well above its pre-pandemic high (12.7%) and its mid-pandemic low point (67.5%).

Here are some of the best-performing medtech stocks from 2020.

While medtech saw a slight decline from the previous week, both of the overall markets fared …

COVID-19 assays sales power Hologic to Street-beating Q1

Hologic (NSDQ:HOLX) shares ticked up after hours today on first-quarter results that topped the consensus forecast.

The Marlborough, Mass.-based company posted profits of $653.4 million, or $2.50 per share, on sales of $1.6 billion for the three months ended Dec. 26, 2020, for a 69.4% bottom-line gain on sales growth of 89.3%.

Adjusted to exclude one-time items, earnings per share were $2.86, 69¢ ahead of Wall Street, where analysts were looking for sales of $1.4 billion.

Hologic continues to benefit from demand for its two COVID-19 assays that run on its Panther and Panther Fusion systems as its worldwide molecular diagnostics business brought in $995.3 million for an increase of 457.6% year-over-year.

“Hologic had a strong start to fiscal 2021 across all our businesses and major geographies,” Hologic chairman, president & CEO Steve MacMillan said in a news release. “Our Diagnostics division continued to deliver incredible performance by maki…

These medtech stocks performed the best in 2020

(From Ishant Mishra on Unsplash)

While 2020 did not go as planned for anyone, with the twists and turns came opportunities for medtech companies to power forward.

Innovations came both as a result of the COVID-19 pandemic and perhaps in spite of the challenges brought on by the virus, highlighted by the increased efforts to produce vaccines and testing while pivoting to artificial-intelligence-based and remote care.

Companies like Moderna arose from nowhere, climbing from a share price of $19.52 to $104.47 over the course of the year as it established itself as a frontronner in the race to get a COVID-19 vaccine to the public, eventually becoming the second vaccine authorized in the U.S.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has hit new heights over the course of 2020, indicating the upward trajectory of the industry. Over the course of the year, the index grew from a total of $86.8…

These medtech stocks performed the best in 2020

(From Ishant Mishra on Unsplash)

While 2020 did not go as planned for anyone, with the twists and turns came opportunities for medtech companies to power forward.

Innovations came both as a result of the COVID-19 pandemic and perhaps in spite of the challenges brought on by the virus, highlighted by the increased efforts to produce vaccines and testing while pivoting to artificial-intelligence-based and remote care.

Companies like Moderna arose from nowhere, climbing from a share price of $19.52 to $104.47 over the course of the year as it established itself as a frontronner in the race to get a COVID-19 vaccine to the public, eventually becoming the second vaccine authorized in the U.S.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has hit new heights over the course of 2020, indicating the upward trajectory of the industry. Ove…

Hologic says revenue nearly doubled in Q1

Hologic (NSDQ:HOLX) announced today that its revenues nearly doubled year-over-year in the first quarter of fiscal 2021.

Marlborough, Mass.-based Hologic expects to report revenues of more than approximately $1.6 billion, an increase of 89.3% from the first quarter of 2020. That tops the company’s November guidance of between $1.35 billion and $1.425 billion for the quarter ended Dec. 26, 2020, according to a news release.

“Hologic’s strong momentum continued in the first quarter of fiscal 2021 as organic revenue more than doubled, well ahead of our prior expectations,” Hologic chairman, president & CEO Steve MacMillan said in the release. “Thanks to the incredible efforts of our diagnostics team, we provided almost 30 million COVID-19 tests to global customers in the quarter. Importantly as well, our breast Health and surgical businesses showed remarkable strength, with each franchise posting growth in all major geographies – the United States, Europ…

Hologic to acquire Biotheranostics for $230M

Hologic (NSDQ:HOLX) announced that it agreed to acquire molecular diagnostic test maker Biotheranostics for approximately $230 million.

Privately held, commercial-stage Biotheranostics provides molecular diagnostics for breast and metastatic cancers. Both of its tests are PCR-based gene expression tests which have been validated in large studies in areas of oncology with unmet needs and high growth potential, according to a news release.

Biotheranostics generated approximately $33 million in revenue during the 2020 calendar year. Marlborough, Mass.-based Hologic expects the acquisition to be slightly dilutive to its non-GAAP earnings per share for fiscal 2021, break-even in 2022 and accretive thereafter.

The companies expect the acquisition to close in February of this year, subject to antitrust clearance along with other customary closing conditions.

“We are thrilled that the Biotheranostics team will become part of Hologic’s diagnostic business,…

Hologic to buy Somatex and its biopsy site marker tech for $64M

Hologic (NSDQ:HOLX) announced today that it completed the acquisition of Somatex Medical Technologies GmbH for $64 million.

Marlborough, Mass.-based Hologic’s acquisition of the company, which was previously owned by E-Med Solutions GmbH, is slated to support its strategy of providing further solutions across the continuum of breast health care and across Europe, according to a news release.

Somatex’s products, which include minimally invasive devices for tumor diagnostics, biopsy and interventional specialties, are seen by Hologic as opportunities to add expertise and capabilities to its breast health care portfolio. Additionally, the company has already previously distributed Somatex’s Tumark family of tissue markers in the U.S.

“The acquisition of Somatex allows us to expand our biopsy portfolio by providing a suite of market-leading solutions that not only address our customers’ needs, but also improve the biopsy experience for thei…