Hologic will expand its portfolio of women’s health offerings through the purchase of competitor Endomag, a privately held developer of breast cancer surgery technology based in the U.K. In a statement, Hologic said the purchase will be made for approximately $310 million.
Endomag develops and sells breast surgery localization and lymphatic tracing technologies, which Erik Anderson, president of breast and skeletal health solutions at Hologic, said “complements” its existing breast imaging and surgery portfolio, allowing the company to better meet the needs of radiologists and surgeons.
In related news, Hologic partnered with Bayer earlier this month to improve breast cancer diagnostics through a contrast imaging supply agreement.
“With a global footprint and a similar commitment to women’s health, we are excited about the potential of welcoming the Endomag team and our future opportunities together to increase access to these technologies and better serve patients across the breast health continuum of care,” Anderson added in the statement.
Hologic said it expects the acquisition of Endomag to be profitable and lead to growth by 2026. Endomag generated $35 million in revenue last year.
The purchase will not be finalized until it’s approved by regulators.
Chad is an award-winning writer and editor with over 15 years of experience working in media. He has a decade-long professional background in healthcare, working as a writer and in public relations.