Hologic to acquire SOMATEX for approximately $64 million
Hologic has acquired SOMATEX Medical Technologies GmbH, a developer of biopsy site markers and localization technologies, for approximately $64 million.
The purchase is expected to strengthen Hologic’s breast marker portfolio, as well as enhance its sales presence in Europe by expanding its direct channel in Germany and its network of regional and international distributor partners.
“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,” said Jennifer Meade, Hologic’s division president for breast and skeletal health solutions, in a statement.
SOMATEX develops minimally invasive solutions for cancer diagnostics, biopsy and interventional specialties. Among its portfolio is the Tumark family of tissue markers, which were distributed by Hologic in the U.S. prior to the acquisition. The company is expected to generate approximately $13 million in revenue for the calendar year 2020, including through the sale of Tumark markers to Hologic.
The acquisition is also expected to be slightly accretive to Hologic’s non-GAAP earnings per share starting in the current fiscal year. “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,” said Meade.
SOMATEX Medical Technologies was previously owned by E-MED Solutions GmbH, Berlin, a group of investors led by Germany private equity company Westlake Partners.