Hologic (NSDQ:HOLX) announced today that it completed the acquisition of Somatex Medical Technologies GmbH for $64 million.
Marlborough, Mass.-based Hologic’s acquisition of the company, which was previously owned by E-Med Solutions GmbH, is slated to support its strategy of providing further solutions across the continuum of breast health care and across Europe, according to a news release.
Somatex’s products, which include minimally invasive devices for tumor diagnostics, biopsy and interventional specialties, are seen by Hologic as opportunities to add expertise and capabilities to its breast health care portfolio. Additionally, the company has already previously distributed Somatex’s Tumark family of tissue markers in the U.S.
“The acquisition of Somatex allows us to expand our biopsy portfolio by providing a suite of market-leading solutions that not only address our customers’ needs, but also improve the biopsy experience for their patients,” Hologic breast and skeletal health solutions division president Jennifer Meade said in the release. “We’ve had a strong partnership with Somatex for several years, which along with our shared focus on innovation, will allow us to quickly integrate and begin building a pipeline that will drive profitable growth and recurring revenue for our breast health business globally.”
Hologic expects Somatex to generate approximately $13 million in revenues for calendar year 2020, including the sales of Tumark markers to the company. The acquisition is expected to be slightly accretive to Hologic’s non-GAAP earnings per sahre starting in the current fiscal year.
“For years, Somatex has been committed to driving innovative, best-in-class tumor marker and localization solutions for our customers and their patients and to becoming a leader in our space,” Somatex managing director Joerg Heise said. “ We are excited to continue this journey through Hologic and their global footprint, providing so many more with access to these pioneering technologies that aid in the early detection and treatment of breast cancer.”
See Full Press Release at the Source: Hologic to Acquire SOMATEX, Leader in Biopsy Site Markers and Localization Technologies, for $64 Million | Business Wire
Press Release by: Hologic
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