Navigation Links
Hologic Acquires Biolucent, Inc.
Date:9/19/2007

A Leader in Mammography Comfort Technology

BEDFORD, Mass., Sept. 19 /PRNewswire-FirstCall/ -- Hologic, Inc. (Nasdaq: HOLX), a leading provider of diagnostic imaging and state-of-the-art digital imaging systems directed towards women's health, today announced it has completed the acquisition of BioLucent, Inc. ("BioLucent"), a market leader in its development and sale of its MammoPad(R) breast cushion.

"This acquisition reflects our continued strategy and efforts to offer a comprehensive portfolio of products to serve in the breast cancer detection market " said Jack Cumming, Chairman and Chief Executive Officer. "The BioLucent MammoPad was designed to benefit women undergoing mammograms by providing more comfort, we believe better tissue acquisition and ultimately improved outcomes. It is our hope with proper training and support, the MammoPad can become a standard of care in mammography. We look forward to the opportunities that will develop from this combination as we continue to build value for our shareholders."

BioLucent, located in Aliso Viejo, California, develops, markets and sells a breast cushion, MammoPad(R), to decrease the discomfort associated with mammography. BioLucent's primary research and development efforts are directed at its brachytherapy business which is focused on breast cancer therapy. Prior to the acquisition, BioLucent completed the spin-off its brachytherapy technology and business to the holders of BioLucent's outstanding shares of capital stock. The new company, Cianna Medical will manufacture and market the SAVI(TM) applicator. As a result Hologic acquired BioLucent's Mammopad(R) business and related assets.

The aggregate purchase price paid by Hologic to the security holders of BioLucent at the closing of the acquisition, exclusive of certain transaction costs and expenses, was approximately $70.0 million, of which amount $65.0 million was paid by Hologic in shares of Hologic's common stock valued at $54.222 per share and $5.0 million was paid in cash. Additionally, Hologic will be responsible for the payment of up to two annual deferred cash payments not to exceed $15 million in the aggregate based upon MammoPad achieving certain revenue targets. The value of the Merger Shares was determined based on the average closing price of Hologic's common stock as quoted on the Nasdaq Market for the five trading days ending September 14, 2007. The purchase price is payable in approximately 1,181,777 shares of Hologic common stock. The actual number of Merger Shares that Hologic will issue in the transaction will be subject to reduction to reflect certain tax withholding obligations. Additionally, approximately 10% of the shares to be issued will be held in escrow and subject to forfeiture to satisfy BioLucent stockholder indemnification obligations, if any.

"We are pleased we have finalized this agreement with Hologic," said Steven Gex, President and CEO of Biolucent, Inc. "We believe Hologic's experience and ability to work with partners to drive the adoption of value- added products in the sales channel will serve as the perfect compliment to our MammoPad(R) breast cushion."

About Hologic

Hologic, Inc. is a leading developer, manufacturer and supplier of medical imaging systems dedicated to serving the healthcare needs of women, and a leading developer of state-of-the-art digital imaging technology for general radiography and mammography applications. Hologic's core business units are focused on osteoporosis assessment, mammography and breast biopsy, direct-to- digital X-ray for general radiography applications and mini C-arm imaging for orthopedic applications. For more information visit http://www.hologic.com.

About Biolucent, Inc. BioLucent, located in Aliso Viejo, California, develops, markets and sells a breast cushion, MammoPad(R), to decrease the discomfort associated with mammography. BioLucent's primary research and development efforts are directed at its brachytherapy business which is focused on breast cancer therapy. Prior to the acquisition, BioLucent will spin-off its brachytherapy technology and business to the holders of BioLucent's outstanding shares of capital stock. The new company, Cianna Medical will manufacture and market the SAVI(TM) brachytherapy applicator. As a result Hologic will only acquire BioLucent's Mammopad(R) business and related assets.

Forward Looking Disclaimer

This News Release contains forward-looking information that involves risks and uncertainties, including statements regarding Hologic's plans, objectives, expectations and intentions. Such statements include, without limitation, statements regarding the anticipated benefits of Hologic's acquisition of Biolucent. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Risks and uncertainties that may cause these forward looking statements to vary materially from Hologic's expectations, include, among others: problems may arise with the ability of Hologic to successfully integrate the businesses of Biolucent, which may result in the combined company not operating as effectively and efficiently as expected; Hologic may not be able to achieve the expected synergies from the acquisition or it may take longer than expected to achieve those synergies; the acquisition may involve unexpected costs or unexpected liabilities, or the effects of purchase accounting may be different from Hologic's expectations; and the combined company may be adversely affected by future legislative, regulatory, or tax changes as well as other economic, business and/or competitive factors. Other factors that could adversely affect Hologic's business and prospects are described in Hologic's filings with the Securities and Exchange Commission. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Hologic's expectations or any change in events, conditions or circumstances on which any such statement is based.

Contact: Glenn P. Muir Frances Crecco

Executive Vice President & CFO Director, Investor Relations

Hologic, Inc. Hologic, Inc.

(781) 999-7300 (781) 999-7377


'/>"/>
SOURCE Hologic, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Psychological consequence of terrorist attacks
2. Breast Cancer Surgery Causes Psychological problems
3. Gastrointestinal Complaint to be dealt Psychologically
4. Prolonged survival not assured by psychological therapies for cancer patients
5. Pathological gambling is associated to brain functions
6. Is low birth weight related to psychological distress in adulthood?
7. Psychological Stress Delays Wound Healing
8. Wound healing affected by Psychological stress
9. Eating together has both psychological and health impacts
10. 9/11 Escapees Have Worsening Respiratory And Psychological Problems
11. Psychological effect on obese kids due to bullying
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/5/2016)... ... December 05, 2016 , ... Sabah Shah MD, MBA has joined the Retina ... of New York was founded by James M. Maisel, MD and has been providing tertiary ... has always followed a legacy of surpassing expectations amongst her peers. Growing up in ...
(Date:12/5/2016)... ... December 05, 2016 , ... ... Surgical Facial Rejuvenation" at the 2016 Anti-Aging & Beauty Awards at The ... The Aesthetic & Anti-aging Medicine European Congress (AMEC) brings together the industry’s ...
(Date:12/4/2016)... ... December 03, 2016 , ... The Lymphoma Research Foundation (LRF) ... and serving the lymphoma community through a comprehensive series of education programs, outreach ... in New York City, with long-time partners The Paul Foundation, on November 10, ...
(Date:12/4/2016)... ... 03, 2016 , ... Penrose Senior Care Auditors® was announced ... evening at the 26th Annual SMU Cox Dallas 100™ Awards Ceremony and Banquet ... for Entrepreneurship. Dallas 100™, co-founded by the Caruth Institute, honors the ingenuity, commitment ...
(Date:12/4/2016)... ... December 04, 2016 , ... Responsible dental care hinges on regular brushing of ... optimal results. This important necessity inspired an inventor from Las Vegas, Nev., to design ... that people break or avoid bad techniques of brushing the teeth in order to ...
Breaking Medicine News(10 mins):
(Date:12/5/2016)... Israel , December 5, 2016 ... identifying, in-licensing and developing promising therapeutic candidates, presents positive Phase ... BL-8040, the Company,s leading oncology platform at the ongoing 58th ... San Diego, California . ... , , ...
(Date:12/5/2016)... Taiwan , Dec. 5, 2016 ... non-inferiority to hydroxyurea (HU) in Complete Hematologic Response (CHR) ... profile of ropeginterferon alfa-2b versus HU AOP ... follow-up trial CONTINUATION-PV to obtain European marketing authorization in the ... data to the FDA as it seeks approval for commercialization ...
(Date:12/4/2016)... --  Pairnomix, LLC, a genetic research company and member ... White House, today announced that findings from its first case ... therapies for a patient with epileptic encephalopathy caused by a ... the 70 th Annual Meeting of the American ... December 2-6, 2016.  Pairnomix, unique process involves creating ...
Breaking Medicine Technology: