Women's imaging vendor Hologic has inked an agreement to purchase molecular diagnostic reagent developer Third Wave Technologies of Madison, WI, for approximately $580 million.
Third Wave develops and markets molecular diagnostic reagents for various DNA and RNA analysis applications based on its proprietary Invader chemistry, according to Hologic of Bedford, MA. Hologic expects the acquisition will accelerate its growth and broaden its presence in the women's health market.
The purchase price of $11.25 per share represents an approximately 24% premium to Third Wave's average trading price over the last three months. The transaction is expected to conclude in the third calendar quarter of 2008; it's expected to be modestly dilutive to Hologic's adjusted earnings per share in the first full year after closing and increasingly accretive thereafter.
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