• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
    • Cardiovascular
    • Orthopedics
  • Wall Street Beat
    • Funding Roundup
    • Mergers & Acquisitions
  • Podcasts
    • DeviceTalks Weekly
  • Resources
    • About MassDevice
    • Newsletter Signup
    • Job Board
    • Leadership in Medtech
    • Manufacturer Search
    • MedTech 100 Index
    • Videos
    • Whitepapers
  • DeviceTalks Tuesdays
    • DeviceTalks
  • Coronavirus: Live updates
Home » Hologic acquires molecular diagnostic company for $159M

Hologic acquires molecular diagnostic company for $159M

March 1, 2021 By Danielle Kirsh

HologicHologic 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 Diagenode 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 efforts to benefit our customers and patients.”

Diagenode and Hologic previously collaborated to develop Hologic’s Panther Fusion assays for detecting streptococcus and bordetella.

“We are very pleased that the Diagenode team will become part of Hologic’s diagnostic business,” Diagenode founder and CEO Didier Allaer said. “Our businesses are highly complementary, and we are excited that Hologic’s commercial resources and leadership in molecular automation will enable us to offer our assay menu more broadly. Being part of Hologic will help scale our products to their full potential.”

Diagenode generated more than $30 million in revenue last year, according to the company. Hologic said the acquisition is expected to be approximately break-even to Hologic’s non-GAAP earnings per share through fiscal year 2022, and accretive after.

“We are excited to put our strong cash flow to work to acquire Diagenode and further strengthen our diagnostics business, which has had tremendous momentum in the United States and internationally,” Hologic president and CEO Steve MacMillan said. “The acquisition is consistent with our tuck-in M&A strategy, leverages our automation capabilities, and provides attractive growth potential. And combined with our recent purchase of Biotheranostics, it enables us to continue strengthening our base diagnostics business to accelerate growth post-COVID.”

Hologic has been on an acquisition spree in recent months as they shift their focus beyond women’s health to overall diagnostics amid the COVID-19 pandemic.  The company acquired Biotheranostics for $230 million in February, Somatex for $64 million in January and Accessa Health for $80 million in August 2020.

Filed Under: Diagnostics, Featured, Genomics/Molecular Diagnostics, Mergers & Acquisitions Tagged With: Diagenode, Hologic

In case you missed it

  • DTW Podcast: How is Zimmer waging the ortho data war? Do medical devices carry physics-based biases?
  • Another BD Alaris infusion pump recall is Class I
  • 9 medical devices you should keep an eye out for in 2021
  • A quick history of the tech behind J&J, AstraZeneca’s COVID-19 vaccines
  • FDA finalizes rule to scale back how it regulates medtech software
  • Qorvo wins FDA nod for test that uses acoustic waves to detect COVID-19 antigens
  • Amgen completes $1.9B acquisition of Five Prime Therapeutics
  • SeaSpine prices $87.8M offering
  • Annual COVID-19 vaccines likely, according to Pfizer CEO
  • Medtronic has another serious HVAD recall
  • Vicarious Surgical to go public in $1.1B SPAC deal
  • Analysts are bullish on Align Technology
  • Trice Medical raises more than $10M
  • FDA clears Acutus Medical suite of universal transseptal crossing devices
  • Mayo Clinic helps launch two new companies for improved diagnostics
  • HHS shoots down ‘flawed’ plan to let some devices skip review
  • Solo-Dex launches peripheral nerve block catheter

RSS From Medical Design & Outsourcing

  • EPA delayed notifying residents of ethylene oxide emissions
    The EPA delayed notifying neighbors of an Illinois medical device sterilization plant of ethylene oxide (EtO) emissions the agency measured in 2018, according to an inspector general’s report released yesterday. The report also says that “leadership” in the agency’s Office of Air and Radiation also failed to conduct public meetings with residents either near the… […]
  • 9 medical devices you should keep an eye out for in 2021
    The medical device industry weathered the COVID-19 pandemic well — and is now set to roll out a host of innovations in 2021. Economists generally expect the U.S. to see a boom as we emerge from the pandemic and resulting recession. Medtech companies appear set to ride the wave this year, with plans to seek… […]
  • Greenlight Guru to provide QMS to NIH diagnostics program
    NIH has chosen Greenlight Guru to provide quality management software for its COVID-19 rapid diagnostics program. The agency launched the Rapid Acceleration of Diagnostics (RADx) program in March 2020 to speed the development, commercialization and implementation COVID-19 testing technologies. As the only QMS provider currently available to all projects in the RADx program, Greenlight Guru… […]
  • MicroCare names CFO
    MicroCare (New Britain, Conn.) has announced the appointment of John Stardellis as the company’s new chief financial officer (CFO). Stardellis joins MicroCare with more than 20 years’ experience in a variety of finance, policy and operational leadership roles. Most recently, he served as CFO at i-Health, a division of DSM Nutritional Products. “John’s track record with… […]
  • Mayo Clinic helps launch two new companies for improved diagnostics
    Mayo Clinic announced that it is introducing a new technology platform to support two new companies it has launched. Rochester, Minn.–based Mayo Clinic’s Remote Diagnostics & Management Platform (RDMP) is designed to connect data with new AI algorithms and augment human decision-making within existing clinical workflows, according to a news release. Get the full story… […]
  • Intertek gains FDA nod for premarket device testing
    Intertek has won accreditation under an FDA pilot program for testing laboratories, the company said this week. The accreditation authorizes Intertek’s 12 “medical centers of excellence” to perform premarket testing of devices for the U.S. market. The Accreditation Scheme for Conformity Assessment pilot program is a voluntary program developed to provide increased confidence in testing… […]
  • HHS shoots down ‘flawed’ plan to let some devices skip review
    The Biden administration has nixed what it described as a “flawed” Trump-era decision to exempt certain medical devices — including infusion pump controllers and fetal monitors — from regulatory review. HHS published the original notice in the Federal Register on Jan. 15, shortly before President Joe Biden was set to take office, without speaking with… […]
  • More than 50 medtech testing sites win FDA pilot accreditation
    The FDA announced today that more than 50 laboratory sites were chosen to participate in its program for streamlined regulatory reviews. In total, 53 sites made the FDA’s initial list for participation in its Accreditation Scheme for Conformity Assessment (ASCA) program, which will set out to support more streamlined regulatory reviews of medical device market… […]
  • Medline Industries up for sale?
    Medline Industries is looking for a buyer in a deal that could be worth $30 billion, according to a report in the Wall Street Journal. The Journal cites “people familiar with the matter” saying that Northfield, Ill.-based Medline has hired Goldman Sachs to manage the process. The people added that the company might alternatively seek… […]
  • Micro to add plant in Costa Rica
    Contract manufacturer Micro today announced plans to open a new plant in Costa Rica. The 32,000 ft² facility will significantly increase Micro’s cleanroom assembly capacity, according to the Somerset, N.J.-based company. It will be located in the Zona Franca Metro business park and is expected to open in late 2021 with operations beginning in 2022.… […]
  • Survey shows solid medical device industry performance despite pandemic
    By Stewart Eisenhart, Emergo Group Medical device and IVD manufacturers report healthy performance over the course of 2020, but also faced significant operational and regulatory challenges related to the coronavirus pandemic. Get the full story here at the Emergo Group’s blog. The opinions expressed in this blog post are the author’s only and do not… […]

Primary Sidebar

DeviceTalks by MassDevice · How Zimmer Biomet is competing in ortho’s data race; Do medical devices carry physics-based biases?

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Need Medtech news in a minute?
We Deliver!

MassDevice Enewsletters get you caught up on all the mission critical news you need in med tech. Sign up today.

Tweets by @MassDevice
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion

MASSDEVICE

Subscribe to MassDevice
Advertise with us
About
Contact us

Add us on Facebook Follow us on Twitter Connect with us on LinkedIn Follow us on YouTube

Copyright © 2021 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Advertise | Privacy Policy | RSS