Hologic to Go Private in $18.3 Billion Acquisition by Blackstone and TPG

In a significant development for the medical technology sector, Hologic, a leading diagnostics specialist focusing on women's health, has agreed to be acquired by private equity firms Blackstone and TPG in a deal valued at up to $18.3 billion. This transaction, one of the largest healthcare acquisitions of the year, will take the Nasdaq-listed company private.

Deal Structure and Financial Details

The acquisition offers Hologic shareholders $76 per share in cash, representing a 46% premium to the company's closing price on May 23, 2025. Additionally, shareholders may receive up to $3 per share more if certain revenue milestones for Hologic's breast health business are met in fiscal years 2026 and 2027, potentially bringing the total payout to $79 per share.

The deal includes significant minority investments from a subsidiary of the Abu Dhabi Investment Authority and an affiliate of GIC, Singapore's sovereign wealth fund. Debt financing commitments have been secured from Citi, Bank of America, Barclays, Royal Bank of Canada, and SMBC.

Strategic Implications and Future Outlook

Stephen MacMillan, Hologic's chairman, president, and CEO, expressed optimism about the acquisition, stating, "With their resources, expertise, and commitment to women's health, Blackstone and TPG will help accelerate our growth and enhance our ability to deliver critical medical technologies to customers and their patients around the world."

Following the completion of the deal, expected in the first half of 2026, Hologic will retain its brand and headquarters in Marlborough, Massachusetts. The company's common stock will be delisted from the Nasdaq, but operations will continue under the Hologic name.

Recent Technological Advancements

Prior to this acquisition announcement, Hologic had been making strides in artificial intelligence applications for women's health diagnostics. A recent study of its Genius AI Detection 2.0 mammography software demonstrated the AI program's ability to correctly identify about 90% of known, true-positive cases and 32% of previously missed, false-negative cancers. These findings highlight the potential for optimizing imaging algorithms in breast cancer detection and diagnosis.

The acquisition by Blackstone and TPG is expected to provide Hologic with additional resources to further develop and commercialize such innovative technologies in the women's health space.