by John R. Fischer
, Senior Reporter | August 01, 2018
Hologic Inc. has acquired Faxitron Bioptics for approximately $85 million, expanding its product portfolio within the breast conservation surgical market.
The purchase of the privately held enterprise gives Hologic access to Faxitron solutions, designed for breast lesion localization and sentinel lymph node biopsy, as well as digital specimen radiography.
“With the expanding range of Hologic's breast health portfolio, this acquisition further strengthens our ability to positively impact patient lives by enabling us to play a larger role in breast conserving surgery, an adjacent growth market for the company's interventional breast business,” Pete Valenti, division president of Hologic’s breast and skeletal health solutions, told HCB News.
Earlier this week, Hologic scored a victory in a Delaware federal court against Minerva Surgical which it sued
for patent infringement over its NovaSure Endometrial Ablation System. The court awarded the women’s health technology company $4.8 million in damages, including lost profits and $587,000 for lost sales royalties of eight percent.
The acquisition is also the second time that Faxitron has made headlines in recent weeks, having just last month merged
its irradiation business with that of Precision X-ray into a new company, DRMC X-ray, which carries an installed base of more than 1,000 systems and is expected by both Faxitron and PXi to become a global leader in biological irradiation.
The agreement equips Hologic with a variety of solutions including Faxitron’s VisionCT, the first 3D breast specimen-designated CT systems designed and FDA approved
to offer 360-degree images of excised lesions, and its VersaVision digital specimen radiography system, cleared
in October by the FDA for imaging core biopsy and surgically excised specimen samples.
Its decision to acquire Faxitron, according to Valenti, stemmed from a shared view on innovation in breast cancer diagnostics and treatment as well as the Science of Sure approach held by Hologic to produce quality clinical results that enable early identification of symptoms, greater diagnostic confidence and compassionate treatment of patients.
“With this acquisition, Hologic can now offer our customers an increasingly comprehensive portfolio of products that offer a broad range of solutions at multiple clinical call-points including radiology, surgery and pathology,” he said.
Primarily a provider for breast surgeons and pathologists, Faxitron racked up approximately $27 million in revenue in its last fiscal year. The company's employees will not be negatively impacted by the sale, according to Hologic.
The acquisition is expected to be roughly neutral to Hologic’s non-GAAP earnings per share for the rest of fiscal 2018 and 2019, after which, it is expected to be accretive, attracting growth and return on invested capital.