Hologic, Inc. (Nasdaq: HOLX), a global leader in women’s health, announced today that it has agreed to acquire Biotheranostics, Inc., a privately held, commercial-stage company that provides molecular diagnostic tests for breast and metastatic cancers, for approximately $230 million, subject to working capital and other customary closing adjustments.
“Acquiring Biotheranostics enables us to jump-start our entry into a large, fast-growing oncology adjacency that fits perfectly with our broader corporate focus and passion for women’s health,” said Kevin Thornal, Hologic’s Division President, Diagnostics. “Together with the Biotheranostics team, we can leverage our commercial capabilities and expertise in molecular diagnostics automation to accelerate growth, help physicians make more informed decisions, and deliver more personalized treatment and better clinical outcomes for more women. In addition, Biotheranostics’ CLIA (Clinical Laboratory Improvement Amendments) lab provides us new capabilities to help accelerate market development for innovative new tests.”
“We are thrilled that the Biotheranostics team will become part of Hologic’s diagnostic business,” said Don Hardison, Biotheranostics’ President and Chief Executive Officer. “Hologic’s leadership in women’s health and molecular automation will accelerate access for both of our novel, proprietary tests, translating into better clinical outcomes for cancer patients. For Breast Cancer Index (BCI), our long-held belief is that all women who are being treated with endocrine therapy for their breast cancer deserve to know what is right for them. Being part of Hologic only helps bring that hope closer to reality. In addition, patients facing the challenges of metastatic cancer will have broader access to our CancerTYPE ID offering that can aid in the diagnosis of the tumor type and subtypes representing 95% of all solid tumors.”
Both of Biotheranostics’ tests are PCR (polymerase chain reaction)-based gene expression tests that have been extensively validated in large studies in areas of oncology with critical unmet needs and high growth potential. The BCI test is included in several clinical practice guidelines for breast cancer, and both tests enjoy widespread reimbursement in the United States.
“Using our strong cash flow to further expand our core businesses into large, fast-growing adjacencies is a key goal of our capital deployment strategy,” said Steve MacMillan, Hologic’s Chairman, President and Chief Executive Officer. “Acquiring Biotheranostics leverages our strengths in molecular diagnostics and complements our leadership in breast health, while providing attractive growth and return on invested capital.”
Biotheranostics generated approximately $33 million of revenue in calendar 2020. The acquisition is expected to be slightly dilutive to Hologic’s non-GAAP earnings per share in fiscal 2021, break-even in 2022, and accretive thereafter.
The acquisition is expected to close in February of 2021, subject to antitrust clearance and other customary closing conditions.
About Hologic, Inc.
Hologic, Inc. is an innovative medical technology company primarily focused on improving women’s health and well-being through early detection and treatment. For more information on Hologic, visit www.hologic.com.
Hologic and The Science of Sure are trademarks and/or registered trademarks of Hologic, Inc. and/or its subsidiaries in the United States and/or other countries.
About Biotheranostics, Inc.
Biotheranostics, Inc. is a commercial-stage molecular diagnostics company that develops and provides diagnostic, prognostic and predictive tests that support physicians in the treatment of cancer patients. The company is based in San Diego, CA and offers testing services through its CLIA-certified, CAP-accredited laboratory that is directly licensed or otherwise authorized to perform testing in all 50 states. Biotheranostics is a leader in the development of evidence-based biomarkers to address unmet medical needs, and the company has set the foundation for rapid growth. For more information, visit biotheranostics.com.
MVM Invests In Optinose
November 18, 2021
MVM invested $20 million in Optinose. Optinose markets XHANCE, an innovative drug delivery system that delivers steroids high and deep […]
Paragon 28, Inc. Announces Pricing of Initial Public Offering
October 15, 2021
ENGLEWOOD, Colo., Oct. 15, 2021 /PRNewswire/ — Paragon 28, Inc. (NYSE: FNA) (“PARAGON”), a leading medical device company exclusively focused on the foot and […]
MVM invests in InBrace
September 8, 2021
MVM invested $15 million in InBrace. InBrace is an orthodontic company that created the novel SmartwireTM, a new category in […]
Valneva Announces Positive Phase 3 Pivotal Results for its Single-Shot Chikungunya Vaccine Candidate
August 6, 2021
Saint Herblain (France), August 5, 2021 – Valneva SE (Nasdaq: VALN; Euronext Paris: VLA), a specialty vaccine company focused on the […]
Vertos mild® Patients Demonstrate Durable 5 Year Outcomes
May 18, 2021
Most Minimally Invasive Lumbar Decompression (mild®) providers are very familiar with the 1-year study conducted by Nagy Mekhail, MD, PhD […]
Valneva Announces the Pricing of its Initial Public Offering on Nasdaq
May 11, 2021
Saint-Herblain (France), May 6, 2021 – Valneva SE, a specialty vaccine company focused on the development and commercialization of prophylactic vaccines for […]
eXmoor pharma secures £12m ($17m) from healthcare investment firm MVM marking milestone towards significant expansion plans
March 16, 2021
eXmoor, the expert cell and gene therapy (CGT) services company (Bristol, England), has announced an initial investment of £12m ($17m) […]
MVM invests in GT Medical
November 23, 2020
GT Medical Technologies, Inc., a company dedicated to improving the lives of patients with brain tumors, today announced it has […]
MVM invests in Paragon 28
August 15, 2020
Paragon 28, Inc., a leading orthopedic foot and ankle company, today announced the completion of a Series B financing. The […]