Hologic Kicks off 2021 with Some M&A ActionHologic Kicks off 2021 with Some M&A Action
The Marlborough, MA-based company is acquiring Somatex, a specialist in biopsy site markers and localization technologies, for $64 million. The deal would help Hologic expand its breast health solutions.
January 4, 2021
Hologic has acquired Somatex Medical Technologies for $64 million in a move to expand its breast health solutions.
Somatex was previously owned by E-Med Solutions GmbH, Berlin, a group of investors led by German private equity company Westlake Partners. The Berlin, Germany-based company specializes in the development and manufacturing of minimally invasive devices in the areas of tumor diagnostics, biopsy, and interventional specialties.
The Somatex product includes the Tumark family of tissue markers, which were distributed by Hologic in the U.S. before the acquisition. It is expected that Somatex will report it generated $13 million in revenue for the calendar year 2020.
“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,” Jennifer Meade, Hologic’s Division President, Breast and Skeletal Health Solutions, said in a 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.”
The Marlborough, MA-based firm had a tremendous 2020. Hologic completely rebounded from the divestiture of its Cynosure aesthetics business, bringing in more than $1.3 billion in revenue for its final quarter in 2020. Hologic said sales were largely driven by COVID-19 offerings.
The company even managed to get through some deals during 2020. Most notably, Hologic picked up Acessa Health, a specialist in the minimally invasive treatment of fibroids for $80 million in cash.
Hologic was voted MD+DI Readers' Choice for Company of the Year because of its breakout year.
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