Mobidiag 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 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 completes $795M Mobidiag acquisition

Hologic (NSDQ:HOLX) today announced that it has completed its $795 million acquisition of diagnostic developer Mobidiag Oy.

France-based Mobidiag develops PCR-based tests for acute care conditions, including gastrointestinal and respiratory infections, antimicrobial resistance management and healthcare-associated infections. Its Amplidiag and Novodiag platforms can deliver results in 50 minutes to two hours.

Marlborough, Mass.-based Hologic announced the deal in April when it said it would make a cash payment of approximately $714 million for Mobidiag’s equity and net debt of approximately $81 million.

“Closing the acquisition of Mobidiag enables us to become a broader, more diversified global diagnostics leader,” Jan Verstreken, international president at Hologic, said in a news release. “Together, we can accelerate development and adoption of Mobidiag’s innovative products globally and drive Hologic’s growth.”

Hologic previously said that …

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 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…