Hologic completes its $4 billion acquisition of Gen-Probe and puts up solid numbers for its fiscal 3rd quarter, sending shares up nearly 3% since July 30.
The acquisition, valued at about $3.7 billion, puts Hologic in the top tier of the diagnostics space, outside of its traditional market, women's health.
Hologic said the deal should add 20¢ per adjusted share during fiscal 2013 and should be "significantly more accretive" thereafter.
News of the deal's closure, and strong fiscal 3rd-quarter numbers, has helped add 2.7% to HOLX shares since July 30. The stock closed at $18.75 yesterday, up from an $18.26 close July 30.
Hologic reported profits of $23.6 million, or 9¢ per share, on sales of $470.2 million during the 3 months ended June 23, for top-line growth of 4.2% but a bottom-line slide of 34.8%.
Adjusted for 1-time items, however, including $5.1 million in acquisition costs and a $1.7 million charge for the wind-down of its Adiana female sterilization line, EPS hit 35¢, just a penny shy of analysts' expectations.
Intersect ENT enrolls the 1st patient in its PROGRESS study, aiming to expand the patient population...
Innovative needle design to enhance patient safety.
Medtronic taps Dr. Elizabeth Nabel, president of Brigham & Women's Faulkner Hospital in Boston,...
NxStage Medical wins FDA clearance to market its OneSite single needle dialysis technology for use...