Medical diagnostics leader Hologic (HOLX) has agreed to be taken private by Blackstone (BX) and TPG (TPG) in a transaction valued at up to $18.3 billion, one of 2025’s largest healthcare buyouts.
🔹 Deal Highlights
- Offer: $76/share in cash, with an additional $3/share contingent right tied to global revenue milestones in FY 2026–2027.
- Implied total: $79/share, representing a ~6% premium.
- Minority co-investors: Abu Dhabi Investment Authority and GIC.
- Expected closing: 1H 2026.
🔹 Sector Impact
Hologic—best known for women’s health diagnostics and breast/cervical cancer screening—has faced declining post-COVID demand and mounting competition. Analysts say privatization will allow management to restructure operations and refocus on long-term innovation outside the public-market spotlight.
“We view this as generally positive for the medtech sector, as it adds to the pool of acquirers and could produce stronger businesses when they re-emerge as public assets,” said BTIG’s Ryan Zimmerman.
🔹 Market Reaction
- Hologic shares +4% on announcement; +13.5% since Reuters first reported revived talks.
- Marks a continued wave of private-equity consolidation in healthcare amid shifting post-pandemic valuations.