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Hologic Acquires The Mammography Intellectual Property of Fischer Imaging

by Barbara Kram, Editor | October 04, 2005
BEDFORD, Mass., September 29, 2005 - Hologic, Inc., a leading provider of diagnostic imaging and state-of-the-art digital imaging systems directed toward women's health, today announced it has completed the acquisition of Fischer Imaging Corporation's intellectual property relating to its mammography business and products, including the rights to their SenoScan digital mammography and MammoTest stereotactic breast biopsy systems. Fischer Imaging located in Denver, Colorado designs, manufactures and markets medical imaging systems for the screening and diagnosis of breast cancer.

"As a company, we have been focused on expanding our market share in women's health," said Jack Cumming, Chairman and Chief Executive Officer. "We have every expectation that this acquisition will strengthen our leadership position in the growing current and future mammography market."

Of the $32 million purchase price, approximately $26.9 million was paid out of existing cash with the remaining amount paid through the cancellation of the principal and interest outstanding under the $5 million secured loan previously provided by Hologic to Fischer Imaging. In the first quarter of fiscal 2006, which ends on December 24, 2005, Hologic expects to incur a one-time charge of approximately $4 million to write off in-process research and development with no future value.
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