Hologic has entered an exclusive negotiation agreement to acquire France-based innovator in cart-based ultrasound products SuperSonic Imagine.
Under the agreement, Hologic has agreed to acquire SuperSonic Imagine’s outstanding shares for about $39m to buy all outstanding shares, or for about $42m assuming all outstanding warrants and options with an exercise price lower than €1.50 are exercised.
Hologic Breast and Skeletal Health Solutions division president Pete Valenti said: “Like our previous acquisitions of Faxitron and Focal, acquiring SuperSonic Imagine will strengthen our strategy to provide comprehensive screening, interventional and surgical solutions across the continuum of breast health care.
“Ultrasound is becoming increasingly important in diagnosing breast cancer, and we believe SuperSonic Imagine offers superior technology that translates into better clinical outcomes for breast cancer patients, as well as for patients with liver and prostate disease.”
Upon completion of the deal, Hologic will file a cash tender offer, which would not be subject to any condition precedent.
Completion of the tender offer is subject to the French Financial Markets Authority’s clearance decision on the proposed offer and is expected to take place by the end of this year.
With the acquisition of SuperSonic, Hologic will enter the $450m cart-based global breast ultrasound market.
SuperSonic’s products will complement Hologic’s wireless, handheld ultrasound scanner Viera, which is being commercialised through a development and distribution agreement with Clarius Mobile Health.
Hologic chairman, president and CEO Steve MacMillan said: “SuperSonic Imagine provides best-in-class ultrasound technology that is strategically important to the long-term growth of our Breast Health business.”