A March 11 article in the Wall Street Journal highlighting rumors that multimodality vendor Philips Healthcare of Andover, MA, might buy women's imaging company Hologic of Bedford, MA, has led to a surge in the latter's stock price.
The financial industry rumor mill has linked the companies at several times in the past, but this time a $27 per-share price tag is apparently attached to a Philips bid, the story stated. Rumors of an acquisition led to a 10% jump in Hologic's share price on March 11, which closed at $19.28, according to the article. The stock gave back some of those gains on Friday, however, and was trading at around $18.53 at midday.
Hologic's focus on women's health would be a good fit for Philips, which is not as strong in breast health as it is in other imaging segments, the article stated. Philips has also expressed an interest in diagnostics, which Hologic entered with its purchase of Cytyc in 2007.
Representatives from both Philips and Hologic declined to comment on the article.
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