Hologic has entered a definitive agreement to acquire Finnish-French molecular diagnostic test developer Mobidiag for an enterprise value of approximately $795m.
The transaction includes a cash payment of approximately $714m (€600m) for Mobidiag’s equity and net debt of around $81m.
The deal will expedite the worldwide growth of Mobidiag’s differentiated molecular platform, which provides user-friendly, multiplex capability and quick turnaround times.
Hologic international group president Jan Verstreken said: “Acquiring Mobidiag will further strengthen our international and diagnostics businesses by enabling us to expand into the large, fast-growing acute care adjacency with a near-patient testing solution that offers ease of use, multiplex capability and rapid turnaround time.
“We believe that Mobidiag has developed a differentiated platform that addresses many of the historical challenges of multiplexed point-of-care molecular testing.”
Mobidiag develops polymerase chain reaction (PCR)-based tests for acute care conditions such as gastrointestinal and respiratory infections, antimicrobial resistance management and healthcare linked infections.
Its platforms, Amplidiag and Novodiag, are mechanised instruments that offer quick turnaround times ranging from 50 minutes to two hours.
Merging real-time PCR and microarray capabilities, the Novodiag platform delivers high-level multiplexing, allowing the detection of various pathogens in a single sample, simplifying workflows for labs and delivering rapid results to doctors.
In the case of gastrointestinal infections, similar or identical symptoms can be caused by more than 25 different organisms. Greatly multiplexed assays can help clinicians detect which organism is causing a particular infection with speed, precision and efficiency.
Mobidiag CEO Tuomas Tenkanen said: “Hologic’s commercial expertise and scale will drive broader market adoption of our products, and their established US regulatory and market development capabilities will accelerate the introduction of our products and maximise their potential in the US.”
The deal is anticipated to close early in the fourth quarter of this fiscal year.
Last month, Hologic acquired molecular diagnostic assays and epigenetics products manufacturer Diagenode in a deal worth approximately $159m.