Hologic to acquire Endomagnetics for $310M

Hologic “announced that it signed a definitive agreement to acquire Endomagnetics Ltd (Endomag(R)), a privately held developer of breast cancer surgery technologies, for approximately $310 million, subject to working capital and other customary closing adjustments. Endomag, which is based in Cambridge, United Kingdom, develops and sells breast surgery localization and lymphatic tracing technologies. Its products include the Magseed(R) marker for magnetic tissue localization before surgery, the Magtrace(R) lymphatic tracing injectable for breast cancer staging and the Sentimag(R) platform, which supports both localization and lymphatic tracing. Endomag generated approximately $35 million of revenue in calendar 2023. The acquisition is expected to be slightly dilutive to Hologic’s non-GAAP earnings per share in fiscal 2024, break even in 2025 and accretive thereafter. Completion of the acquisition is subject to customary closing conditions, including regulatory approvals.”