Hologic (NSDQ:HOLX) announced today that it entered into a definitive agreement to sell its Cynosure medical aesthetics business in a deal worth more than $200 million. The Marlborough, Mass.–based company is in agreement with an affiliate of investment funds managed by Clayton, Dubilier & Rice and expected to collect net cash proceeds of approximately $138 million, according […]
Hologic lowers Cynosure revenue outlook in response to FDA warning on ‘vaginal rejuvenation’ products
Hologic (NSDQ:HOLX) today lowered the revenue expectations for its Cynosure division by $15 million to take into effect lost and reduced sales associated with an FDA warning from last month which raised concerns about the validity and functionality of “vaginal rejuvenation” products and procedures. Last month the company said that Cynosure will suspend the marketing and […]
Hologic pulls Vitalia handpieces, probes in light of FDA concerns over vaginal rejuv tech
Hologic (NSDQ:HOLX) said today that its subsidiary Cynosure is suspending marketing and distribution of its TempSure Vitalia handpieces and probes after the FDA released a warning about a lack of evidence to support certain “vaginal rejuvenation” products late last month. The Marlborough, Mass.-based company said that it takes “the FDA’s recent statements very seriously” and […]
Inside Hologic’s evolving definition of women’s healthcare
Hologic (NSDQ:HOLX), known in the medtech industry for its mammography and diagnostics devices, is rethinking what it means to be a women’s healthcare company. The 6,000-person company wants to expand its reach to include products that care for women’s well-being, as well as their health – a concept that Dr. Edward Evantash honed when he led […]
Hologic’s Cynosure to close NY-based plant, layoff 30
Hologic (NSDQ:HOLX) subsidiary Cynosure is looking to lay off 30 workers at its Hicksville, N.Y.-based facilities, according to a newly released Worker Adjustment and Retraining Notification act posting. The layoffs come as a result of the company closing its plant, which produced “irradiation apparatus” devices, according to the notice. Hologic will move the production jobs to […]
FDA warns on ‘vaginal rejuvenation’ procedures
FDA head Dr. Scott Gottlieb today released a statement warning about “vaginal rejuvenation” procedures intended to treat conditions related to menopause, urinary incontinence or sexual function, saying that the products used in the procedures “don’t have adequate evidence to support their use for this purpose.” Gottliebb said that the procedures use lasers or energy-based devices […]
Hologic wins expanded FDA nod for Cynosure SculpSure
Hologic (NSDQ:HOLX) said today it won expanded FDA 510(k) clearance for its subsidiary Cynosure’s SculpSure non-invasive body contouring laser, now cleared to treat the submental area. The new treatment indication expands the total for the company to 6, as the device is already cleared to treat the abdomen, flanks, back, inner and outer thighs, the Marlborough, […]
Medtech M&A: The 10 biggest deals so far in 2017
Over the past several years, the healthcare industry as a whole has experienced an abundance of mergers and acquisitions – major players are buying up their peers in deals ranging from millions to billions. The trend is continuing, and the healthcare playing field continues to be shaped by these mega-transactions. For the medical device industry, […]
Hologic’s Cynosure wins FDA expanded indications for SculpSure
Hologic (NSDQ:HOLX) said today its Cynosure subsidiary won expanded clearance from the FDA for its non-invasive SculpSure body contouring device. With the expanded indication, the SculpSure is now cleared for treatments of the back and inner and outer thighs, the Marlborough, Mass.-based company said. The device is already cleared for treatment of the abdomen and flanks. The […]
Hologic closes $1.7B Cynosure buy
Hologic (NSDQ:HOLX) said today that it closed its $1.65 billion acquisition of Cynosure Inc. (NSDQ:CYNO) and its portfolio of medical aesthetic products and devices. Marlborough, Mass.-based Hologic paid $66 per share for a total of 17 million shares of Class A stock, representing approximately 70.6% of the company’s outstanding shares. “We are pleased to complete our acquisition […]
Cynosure shareholders sue to block $1B Hologic merger
Cynosure Inc. (NSDQ:CYNO) shareholders last week filed a class action lawsuit to halt the company’s proposed $1.44 billion sale to Hologic (NSDQ:HOLX), alleging that Cynosure’s regulatory filing recommending the transaction is missing crucial information about the company’s financial projections and the process that led up to the deal. The complaint, filed in the U.S. District Court […]
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