Hologic’s $18.3bn take-private deal taps four firms
Blackstone and TPG will acquire medical device maker Hologic for $18.3 billion, including debt, in the largest sector transaction since 2006. The private equity firms will pay $76 per share in cash with potential contingent payments up to $3 per share based on breast health division revenue targets through fiscal 2027.
Wachtell Lipton Rosen & Katz represents Hologic while Kirkland & Ellis advises the buyout consortium and Ropes & Gray handles regulatory matters. Sidley Austin counsels minority investor GIC alongside Abu Dhabi Investment Authority. The deal surpasses Boston Scientific’s $27 billion purchase of Guidant Corp in 2006.
The transaction requires shareholder approval and regulatory clearance before closing in the first half of next year. Hologic specializes in women’s health diagnostics for breast and cervical cancer screening. Goldman Sachs advises Hologic while Citi represents the buyers.
