Blackstone and TPG are set to acquire Hologic, Inc. for $18.3 billion in a move aimed at revitalizing the company's growth potential in women's health diagnostics.

Overview of the Deal

On October 21, 2025, investment funds managed by Blackstone and TPG entered into a definitive agreement to acquire Hologic, Inc. in a public-to-private transaction. The agreement stipulates a cash consideration of $76.00 per share, along with a contingent value right (CVR) of up to $3.00 per share, contingent on global Breast Health revenue for FY2026 and FY2027, potentially raising the total to $79.00 per share. This offer represents a 46% premium to the company's unaffected closing stock price observed on May 23, 2025. The transaction's terms reflect the investors' conviction that Hologic, as a leading diagnostics franchise, has been undervalued by the public markets, with potential for accelerated growth in demand for its medical services. The agreement includes a 45-day 'go-shop' period to allow Hologic and its advisors to explore alternative acquisition proposals, with closing expected in the first half of 2026, pending shareholder and regulatory approvals.

Target Information

Hologic, Inc. is an American medical technology company dedicated to improving women's health through innovative diagnostics, surgical solutions, and medical imaging technologies. The company specializes in various domains, including breast health (mammography and biopsy systems), cervical cancer diagnostics (e.g., HPV testing), and surgical technologies for minimally invasive procedures. Founded in 1985 and headquartered in Marlborough, Massachusetts, Hologic serves a global market and has been publicly traded on NASDAQ since 1990.

Industry Overview

The healthcare industry in the United States, particularly the medical technology sector, has shown resilience and significant growth potential. Hologic operates within this dynamic ecosystem, primarily focusing on women's health, which has b