Hologic has agreed to be acquired by investment firms Blackstone and TPG in a transaction valued at up to $18.3 billion.

The deal offers shareholders $76 per share in cash and a contingent value right (CVR) worth up to $3 per share, tied to future revenue targets.

The CVR would be payable in two installments, up to $1.50 each, based on performance milestones for Hologic’s breast health business in fiscal years 2026 and 2027. If fully realized, the total payout would represent a 46% premium over Hologic’s share price as of May 23, 2025, the day before news reports of a potential sale.
The deal includes minority investments from the Abu Dhabi Investment Authority and Singapore’s sovereign wealth fund GIC. Both are participating through affiliated entities.

Hologic’s board has unanimously approved the agreement and is recommending that shareholders do the same. The company will retain its name and continue operating from its current headquarters following the transaction, which is expected to close in the first half of 2026, pending regulatory and shareholder approvals.

“The transaction delivers immediate and compelling value to Hologic stockholders,” said Stephen P. MacMillan, Hologic’s chairman, president and CEO. “With their resources, expertise and commitment to women’s health, Blackstone and TPG will help accelerate our growth.”

Financing for the acquisition includes debt commitments from Citi, Bank of America, Barclays, Royal Bank of Canada and SMBC. Equity funding is being provided by Blackstone and TPG, with additional capital from Blackstone’s private equity strategy for individual investors.

A 45-day go-shop period is in effect, allowing Hologic to consider alternative acquisition proposals. The company said it does not plan to issue updates on that process unless required.

Hologic also confirmed it will report fourth-quarter earnings on Nov. 3 but will not provide financial guidance for fiscal 2026 while the transaction is pending.

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