Women’s health focused medical device company Hologic has announced the signing of a definitive agreement to acquire Endomag, a private company specializing in breast cancer surgery technologies, for approximately $310 million, subject to working capital and other customary closing adjustments. Endomag’s suite of solutions includes the Magseed marker for magnetic tissue localization before surgery, the Magtrace lymphatic tracing injectable for breast cancer staging, and the Sentimag platform, supporting 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.
Endomag, headquartered in Cambridge, UK, has established itself as a provider of breast surgery localization and lymphatic tracing technologies. Its products have gained traction globally, contributing approximately $35 million in revenue in calendar 2023.
“We are delighted to attract the strength and focus of Hologic to power the next phase of our growth,” said Eric Mayes, CEO of Endomag. “Our team is encouraged by our cultural alignment and the potential to strengthen a broader portfolio of solutions to improve women’s health globally.”
The acquisition is expected to be slightly dilutive to Hologic’s non-GAAP earnings per share in fiscal 2024, break even in 2025, and accretive thereafter. Completion of the acquisition is subject to customary closing conditions, including regulatory approvals.
