MARLBOROUGH, Mass.– Hologic, Inc. (Nasdaq: HOLX), a global leader in women’s health, announced that it has entered into a definitive agreement to be acquired by funds managed by Blackstone and TPG in a transaction valued at up to $79 per share, representing an enterprise value of approximately $18.3 billion.
Under the terms of the agreement, Hologic stockholders will receive $76 per share in cash plus a non-tradable contingent value right (CVR) of up to $3 per share, payable in two potential installments of up to $1.50 each if the company achieves certain revenue milestones in fiscal years 2026 and 2027 for its Breast Health business. The deal represents a premium of about 46 percent over Hologic’s closing price on May 23, 2025, the last full trading day before reports of a potential sale.
The transaction also includes significant minority investments from the Abu Dhabi Investment Authority (ADIA) and GIC.
“Today marks an exciting new chapter for Hologic as we join forces with the exceptional teams at Blackstone and TPG,” said Stephen P. MacMillan, Hologic’s Chairman, President and Chief Executive Officer. “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 patients around the world. This transaction delivers immediate and compelling value to Hologic stockholders, reflecting the dedication of our employees whose hard work has made this milestone possible.”
Ram Jagannath, Senior Managing Director at Blackstone, said, “Hologic is an outstanding global leader in advancing women’s health, with a longstanding reputation for high-quality medical device and diagnostic products. We are thrilled to partner with its highly talented employees, alongside TPG, to further invest in Hologic’s continued innovation and growth.”
John Schilling, M.D., Co-Managing Partner of TPG Capital, added, “Hologic’s innovation-driven medical products and technologies are improving detection and care for women worldwide. Investing behind healthcare innovation has been a core focus for TPG for decades, and Hologic represents a compelling opportunity to continue promoting strong clinical results and enhanced patient care.”
The merger is expected to close in the first half of 2026, subject to approval by Hologic stockholders, regulatory clearance, and customary closing conditions. The company’s board of directors has unanimously approved the deal and recommends that shareholders vote in favor of it.
Blackstone and TPG have secured committed financing, including debt commitments from Citi, Bank of America, Barclays, Royal Bank of Canada, and SMBC, and equity commitments from funds advised by both private equity firms. Upon completion, Hologic’s shares will be delisted from Nasdaq, and the company will continue to operate under its existing name and remain headquartered in Marlborough, Massachusetts.
The merger agreement includes a 45-day “go-shop” period allowing Hologic and its advisors to solicit and evaluate alternative proposals. The board may terminate the current agreement to pursue a superior offer, subject to the terms of the agreement. Hologic does not plan to provide updates on the process unless required.
