Hologics Set to Acquire Rival in Breast Imaging

Hologic is dipping back into the M&A waters and is set to acquire its rival, Endomagnetics for about $310 million. The Cambridge, UK-based company develops breast cancer surgery technologies and generated about $35 million in revenue in 2023.

Endomagentics products include the Magseed marker for magnetic tissue localization before surgery, the Magtrace lymphatic tracing injectable for breast cancer staging, and the Sentimag platform, which supports both localization and lymphatic tracing.

“Endomag’s suite of solutions complements our existing breast surgery portfolio and will provide surgeons and radiologists with an expanded range of options to meet the individual needs of more patients undergoing critical breast cancer procedures,” said Erik Anderson, President of Breast and Skeletal Health Solutions at Hologic. “With a global footprint and a similar commitment to women’s health, we are excited about the potential of welcoming the Endomag team and our future opportunities together to increase access to these technologies and better serve patients across the breast health continuum of care.”

The acquisition comes at a time when the medical device industry has seen an uptick in the quality and number of deals compared to 2023.

So far, there have been high-profile deals such as Johnson & Johnson moving to acquire Shockwave Medical and Boston Scientific making a move to pick up Axonics.

Related:Cynosure’s New Life After Hologic Includes a Merger

To see how medtech fared with M&A in 2023 check out our special report Top Medical Device Deals.