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Hologic Sets M&A Sights on SuperSonic Imagine in $85M Deal

Lately, Hologic has been on a path to increase its breast health offerings through acquisitions.

In an attempt to boost its imaging offerings for breast health, Hologic has made a binding offer to acquire SuperSonic Imagine for $85 million. Aix-En-Provence, France-based Sonic Imagine develops cart-based ultrasound products.

Hologic also would make available funds to repay SuperSonic Imagine’s net debt in an amount not to exceed $43 million, equating to a maximum enterprise value of $85 million. SuperSonic Imagine’s main shareholders, who together hold 10,841,409 shares or about 46% of the outstanding share capital of the company, have agreed to sell their shares to Hologic at the price of €1.50 per share.

If this acquisition is completed, Hologic will file a cash tender offer, which would not be subject to any condition precedent, for all the remaining shares of SuperSonic Imagine at the same price per share, which represents a premium of 42.9% over the closing price on June 19, 2019 and a premium of 45.7% over the volume-weighted average price over 60 trading days.

“This contemplated acquisition of SuperSonic Imagine by Hologic meets all our strategic objectives and would allow us to develop the Ultrasound activity within a group that shares our values, said Michèle Lesieur, CEO, of SuperSonic Imagine.

This isn’t the first time Hologic has made a move bolster its breast health offerings through an acquisition. In August of last year, MD+DI reported Hologic spending $85 million to acquire Faxitron Bioptics.

The Tucson, AZ-based company developed a broad portfolio of products across major categories including digital specimen radiography, breast lesion localization, and sentinel lymph node biopsy.

A little more than a month after the Faxitron deal was announced, Hologic again went to the acquisitions well to boost its breast health offerings. The target this time would be Aliso Viejo, CA-based Focal Therapeutics for about $125 million.

Through the acquisition Hologic gained access to BioZorb, an implantable 3-D marker that helps clinicians overcome challenges in breast conserving surgery, or lumpectomy.

“Like our previous acquisitions of Faxitron and Focal, acquiring SuperSonic Imagine will strengthen our strategy to provide comprehensive screening, interventional and surgical solutions across the continuum of breast healthcare,” said Pete Valenti, Hologic’s Division President, Breast and Skeletal Health Solutions. “Ultrasound is becoming increasingly important in diagnosing breast cancer, and we believe SuperSonic Imagine offers superior technology that translates into better clinical outcomes for breast cancer patients, as well as for patients with liver and prostate disease.”

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