Hologic of Bedford, MA, is continuing its acquisition spree. The company yesterday announced that it plans to buy BioLucent, the developer of the MammoPad breast cushion device.
MammoPad is a radiolucent foam cushion that covers the surfaces of mammography equipment, reducing patient discomfort during mammography screenings. Hologic said it would pay $70 million for the Aliso Viejo, CA-based company, and the deal includes a $15 million earn-out if revenue targets are met.
BioLucent turned in revenues of $17 million in calendar 2006, representing 42% growth over the previous year. MammoPad is used in about 20% of mammography facilities in the U.S., according to Hologic.
As part of the deal, BioLucent will spin off its SAVI accelerated partial-breast irradiation (APBI) business into a newly created company, which will remain independent. The acquisition is expected to close in the third quarter of 2007.
By AuntMinnie.com staff writers
June 22, 2007
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