
Hologic has entered into a definitive agreement to be acquired by funds managed by Blackstone and TPG in a transaction valued at up to $18.3 billion.
Under the terms of the agreement, Blackstone and TPG will acquire all outstanding Hologic shares for $76 per share in cash plus a non-tradable contingent value right to receive up to $3 per share in two payments, for total consideration of up to $79 per share. The contingent value right would be paid following achievement of certain global revenue goals for Hologic’s Breast Health business in fiscal years 2026 and 2027.
The aggregate purchase price represents a 46% premium to Hologic’s closing price on May 23, 2025, the last trading day prior to media reports regarding a possible transaction. The transaction includes significant minority investments from a wholly owned subsidiary of the Abu Dhabi Investment Authority and an affiliate of GIC.
“Today marks an exciting new chapter for Hologic as we join forces with the exceptional teams at Blackstone and TPG,” said Stephen P. MacMillan, Hologic’s Chairman, President and Chief Executive Officer. “With their resources, expertise and commitment to women’s health, Blackstone and TPG will help accelerate our growth and enhance our ability to deliver critical medical technologies to customers and their patients around the world. This transaction delivers immediate and compelling value to Hologic stockholders, reflecting the dedication of our employees whose hard work has made this milestone possible.”
Hologic, based in Marlborough in the United States, is a medical technology company focused on women’s health, developing products for detection, diagnosis, and treatment. The company’s portfolio includes breast health, diagnostics, gynecological surgical products, and skeletal health systems.
“Hologic is an outstanding global leader in advancing women’s health, with a longstanding reputation for groundbreaking and high-quality medical device and diagnostic products,” said Ram Jagannath, a Senior Managing Director at Blackstone. “We have closely followed the Company for many years and long admired the positive impact its life-changing technologies have had for millions of patients worldwide. We are thrilled to partner with its highly talented and capable employees, alongside TPG, to further invest in Hologic’s continued product innovation and growth.”
The transaction is expected to close in the first half of 2026, subject to approval by Hologic stockholders, regulatory approvals, and customary closing conditions. The Hologic Board of Directors has unanimously approved the merger agreement and recommends stockholder approval.
Blackstone and TPG have secured committed financing from Citi, Bank of America, Barclays, Royal Bank of Canada, and SMBC. Upon completion, Hologic’s common stock will be delisted from the Nasdaq stock market. The company will maintain its headquarters in Marlborough, Massachusetts, and continue operating under the Hologic name.
The merger agreement includes a 45-day “go-shop” period during which Hologic may solicit alternative acquisition proposals from third parties. The Hologic Board of Directors will have the right to terminate the agreement to enter into a transaction providing a superior proposal, subject to terms and conditions.