Hologic is Reaching for the (Google) Cloud with New CollaborationHologic is Reaching for the (Google) Cloud with New Collaboration

The Marlborough, MA-based company has signed a multi-year agreement to integrate Google Cloud’s machine learning technologies with the Genius Digital System for the screening of cervical cancer.

Omar Ford

February 2, 2021

2 Min Read
IMG_Feb22021at20859PM.jpg
Sundry Photography-stock.adobe.com

Hologic is aiming for the clouds for its next collaboration – the Google cloud to be exact.

The Marlborough, MA-based company said on Monday it was entering into a multi-year agreement that will integrate the Google Cloud machine learning technologies with the Genius Digital System. Financial terms of the collaboration were not disclosed.

The goal of the collaboration is to use artificial intelligence to enhance the screening of cervical cancer. Hologic said its expectation is that the Genius Digital Diagnostics System will derive even more actionable insights from cytology slides for cytotechnologists and pathologists. 

Genius Digital Diagnostics is CE-marked for diagnostics in Europe, however, the technology is not available in the U.S.

“Through this collaboration with Hologic, we are helping to evolve digital diagnostics by complementing their expertise in diagnostics and AI with our expertise in machine learning,” Joe Miles, Managing Director of Google Cloud Healthcare and Life Sciences said in a release. “We are further bringing to life our two organizations’ shared commitment to reimagining digital diagnostic capabilities for laboratories and healthcare providers across the globe, ultimately enabling them to better serve their patients.”

Turning Point

It can be argued that 2020 was a major turning point for Hologic. The company got its groove back with a renewed focus on women’s health and was able to turn into an earnings juggernaut because of COVID-19 testing offerings.  

The firm carried the momentum over into 2021 with acquisitions. In early January, the company announced it was acquiring Somatax Medical Technologies for $64 million. The addition of the Berlin, Germany-based company would help expand Hologic’s breast health solutions.

The firm went on to announce it would acquire Biotheranostics, a private company that provides diagnostic tests for breast and metastatic cancers, for $230 million.

During a recent earnings call, Hologic’s Chairman, President, and CEO Steve MacMillan spoke on the company’s most recent M&A (including the firm’s August acquisition of Acessa).

“The acquisitions of Acessa and Somatex demonstrate the final reason we will be stronger after the pandemic, the ability to use the healthy cash flow that COVID tests are generating to step up our business development activities,” MacMillan said according to a Seeking Alpha transcript of the call. “The pending, $230 million acquisition of Biotheranostics, which we announced earlier this month, is another good example of this strategy. Biotheranostics, a leader in molecular tests for breast and metastatic cancers, enables us to expand into the adjacent growth market of oncology.”

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.

 

Sign up for the QMED & MD+DI Daily newsletter.

You May Also Like