Women's imaging vendor Hologic has acquired TCT International, a distributor of medical products in China.
Headquartered in Beijing, TCT employs more than 500 people and has a large, nationwide sales organization and customer support infrastructure in China. TCT already distributes Hologic's ThinPrep Pap test in the country, along with related instruments and other diagnostic and surgical products.
Hologic paid $135 million in cash and a two-year earn-out for TCT. The earn-out is payable in cash installments equal to a multiple of the incremental revenue growth in TCT's business. Hologic said it expects the acquisition to generate approximately $10 million in revenues in the company's fiscal 2011.
