Hologic (Nasdaq:HOLX) announced today that CEO Steve MacMillan intends to retire following the closing of its pending go-private deal.
In October 2025, Marlborough, Massachusetts-based Hologic announced that it agreed to be acquired by funds managed by private equity firms Blackstone and TPG. The deal has a value of up to $79 per share, representing an enterprise value of up to $18.3 billion in total.
Hologic said it received all regulatory approvals for the transaction. It now expects the deal to close on or about tomorrow, April 7, 2026. Following the closing, MacMillan, who serves as chair and president in addition to CEO, decided to retire. Hologic plans to announce its next CEO when the deal closes.
“Hologic’s board of directors, and all the Company’s stakeholders, owe a debt of gratitude to Steve, one of the most respected leaders in the medical technology industry,” said Amy Wendell, Hologic lead independent director. “He forged a dramatic turnaround shortly after joining the company, led us through years of consistent growth, drove our unprecedented response to the COVID pandemic, and is guiding us through a successful go-private transaction.”
MacMillan joined Hologic as president and CEO in December 2013. His election to the role of chair of the board came in 2015. Prior to his time at Hologic, he served as president and CEO of Stryker for seven years. Other roles included stints as a senior executive at Pharmacia and Johnson & Johnson.
“Leading Hologic has been the greatest honor and privilege of my career,” MacMillan said. “I’m immensely grateful to the customers and patients who trusted us, the board and investors who supported us, and especially the employees who made all our accomplishments possible. I know they will make even greater contributions to women’s health as a private firm owned by Blackstone and TPG.”
Hologic deal highlights influence of private equity in medtech
Private equity firms continue to play a role on the medtech mergers and acquisitions scene. Medtech companies, including Medtronic, Johnson & Johnson and Baxter, previously looked to private equity for spinoff and separation opportunities.
Surmodics struck a deal to sell to private equity, and received clearance to go ahead with that acquisition in late 2025. Philips and Bioventus divested business units to private equity firms last year.
Firms also make significant investments, like one in Medline years ago and one in Henry Schein in 2025. Last fall, HistoSonics announced a management-led majority stake acquisition by a syndicate of private and public investors.
Highridge Medical, formerly part of ZimVie, recently sold its bone healing division to private equity as well. Another private equity play occurred in medtech last month, when Olympus partnered with investment firm Revival Healthcare Capital to drive advancements in endoluminal robotics.
(Leading medtech companies discussed the role of private equity in medtech M&A at AdvaMed’s The MedTech Conference in October 2025. Read more about that here.)
