Hologic Returns to Form with Acessa Health Acquisition

Acessa specializes in the minimally invasive treatment of fibroids. The deal is in line with the Marlborough, MA-based company saying it would focus on tuck-in acquisitions.

Omar Ford

August 26, 2020

2 Min Read
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Hologic is strengthening its GYN Surgical portfolio with the acquisition of Acessa Health. The Marlborough, MA-based company picked up Acessa, a specialist in the minimally invasive treatment of fibroids, for $80 million in cash.

There’s also an option for contingent payments based on future revenue growth.

Austin, TX-based Acessa has developed the Acessa ProVu system, a fully integrated laparoscopic system that combines radiofrequency ablation with advanced intra-abdominal ultrasound visualization and guidance mapping, enabling physicians to effectively and safely treat women with symptomatic, benign uterine fibroids.

Clinical studies have shown that the Acessa ProVu system is a safe and minimally invasive alternative to hysterectomy and myomectomy. The system is indicated for the treatment of benign uterine fibroids and is designed to detect more fibroids as compared to current imaging modalities.

Hologic estimates that Acessa Health will generate approximately $13 million of revenue in fiscal 2021. The acquisition is expected to be slightly dilutive to Hologic’s non-GAAP earnings per share in fiscal 2021, break-even in 2022, and accretive thereafter.

“Acessa Health provides best-in-class technology that improves patient outcomes and is an excellent fit with our GYN Surgical business,” Steve MacMillan, Hologic’s Chairman, President and CEO, said in a release. “This exciting tuck-in acquisition is consistent with our capital deployment goals, will be accretive to our revenue growth rate, and provides an attractive return on invested capital.”

The acquisition represents a return to form for Hologic. In 2017, the company shocked investors with its plan to acquire leading aesthetics player Cynosure for $1.65 billion.

The Cynosure deal placed Hologic in the fast-growing cash-pay segment. However, Cynosure repeatedly underperformed, so much so that it was divested to an affiliate of investment funds managed by Clayton, Dubilier & Rice for $205 million.

During a presentation at the 38th annual J.P. Morgan Healthcare Conference, Hologic said it was finished with big medtech acquisitions for the near future and would in turn return to tuck-in deals to drive growth.

About the Author

Omar Ford

Omar Ford is a veteran reporter in the field of medical technology and healthcare journalism. As Editor-in-Chief of MD+DI (Medical Device and Diagnostics Industry), a leading publication in the industry, Ford has established himself as an authoritative voice and a trusted source of information.

Ford, who has a bachelor's degree in print journalism from the University of South Carolina, has dedicated his career to reporting on the latest advancements and trends in the medical device and diagnostic sector.

During his tenure at MD+DI, Ford has covered a wide range of topics, including emerging medical technologies, regulatory developments, market trends, and the rise of artificial intelligence. He has interviewed influential leaders and key opinion leaders in the field, providing readers with valuable perspectives and expert analysis.

 

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