Blackstone, TPG Near $17B Deal for Medical Tech Firm Hologic
Private equity firms Blackstone and TPG are nearing a deal to acquire medical technology company Hologic. The transaction could value the cancer test maker at over $17 billion, including debt.
Talks are in the late stages, with a potential announcement expected in the coming days. The acquisition is set to be financed through secured debt financing, with Blackstone arranging a revised revolving credit facility worth $4.325 billion. Hologic shareholders have reacted positively, with shares closing higher on Thursday and Friday, and continuing to rise in post-market trading. The companies are negotiating a price target of over $75 per share for Hologic.
If finalised, this deal will see Hologic, based in Marlborough, Massachusetts, change hands from its current owners to private equity firms Blackstone and TPG. The transaction will value the company at over $17 billion, reflecting the significant value placed on its cancer testing capabilities.
