The Financial Times reported yesterday that a duo of private equity firms approached Hologic (Nasdaq: HOLX) about a potential acquisition.
According to the report, TPG and Blackstone presented a joint offer to take the Marlborough, Massachusetts–based women’s health and diagnostics company private. The firms reportedly valued the deal at more than $16 billion.
FT reports that Hologic declined the deal, but the report cited sources saying the deal could return to the table. The report says the company faces some potential hurdles ahead with tariffs and decreased demand. Hologic recently slashed its projections for profits due to the potential impact of tariffs on manufacturing in China and Costa Rica.
Hologic shares jumped nearly 20% on the back of the report yesterday and are currently up more than 2.3% today at $63.65 apiece.
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, although that move remains under government scrutiny. Philips and Bioventus also this year divested business units to private equity firms.
Firms also make significant investments, like one in Medline years ago and one in Henry Schein earlier this year.
With more than $4 billion in annual revenue, Hologic is the 30th largest medtech company in the world, according to our most recent Medtech Big 100 report.
