Digital x-ray and bone densitometry vendor Hologic has closed its acquisition of the U.S. assets of Trex Medical. The purchase, which was announced on August 15, is valued at approximately $55 million and comprises $30 million in cash and a secured note in the amount of $25 million.
Hologic will use the purchase accounting method for the acquisition. Since the current operations of Trex are unprofitable, management expects the transaction to be initially dilutive to earnings.
As a result of the deal, Hologic has inherited approximately 550 employees at Trex’s current 62,500-sq.-ft. R&D, manufacturing, and administrative site in Danbury, CT, as well as Trex’s 156,000-sq.-ft. leased facility in Littleton, MA. The Bedford, MA-based firm has also acquired 49 U.S. and foreign patents.
By AuntMinnie.com staff writers
September 18, 2000
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