Hologic acquires SOMATEX Medical Technologies for $64m

5 January 2021 (Last Updated January 5th, 2021 13:32)

Medical technology company Hologic has acquired biopsy site markers and localisation technologies developer SOMATEX Medical Technologies in a deal valued at approximately $64m.

Hologic acquires SOMATEX Medical Technologies for $64m
Hologic intends to boost its sales presence in Europe by growing its direct channel in Germany. Credit: National Cancer Institute / Unsplash.

Medical technology company Hologic has acquired biopsy site markers and localisation technologies developer SOMATEX Medical Technologies in a deal valued at approximately $64m.

E-Med Solutions, a group of investors led by German private equity company Westlake Partners, previously owned SOMATEX.

The deal supports Hologic’s plan to provide a broad suite of innovative breast health solutions across the continuum of care.

Furthermore, SOMATEX’s differentiated products will help Hologic in fortifying and expanding its breast marker portfolio, which is witnessing a steady growth.

With the acquisition, Hologic intends to boost its sales presence in Europe by growing its direct channel in Germany and its regional and global distributor partner network.

Hologic Breast and Skeletal Health Solutions division president Jennifer Meade said: “The acquisition of SOMATEX allows us to expand our biopsy portfolio by providing a suite of market-leading solutions that not only address our customers’ needs but also improve the biopsy experience for their patients.

“We’ve had a strong partnership with SOMATEX for several years, which along with our shared focus on innovation, will allow us to quickly integrate and begin building a pipeline that will drive profitable growth and recurring revenue for our breast health business globally.”

SOMATEX develops and produces minimally invasive devices for tumour diagnostics, biopsy, and interventional specialities.

The expertise and capabilities will support Hologic in contributing to the growth of its breast health portfolio.

The Tumark family of tissue markers, distributed by Hologic in the US, are part of SOMATEX product portfolio.

Hologic is an authorised distributor of Tumark Professional X, Q, and Vision biopsy site markers.

In August last year, Hologic acquired Acessa Health, a developer of minimally invasive treatment for fibroids, in a cash deal valued at approximately $80m.