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Hologic To Acquire Mobidiag Oy In Deal Valued At $795 Mln - Quick Facts

Medical technology company Hologic, Inc. (HOLX) announced Thursday that it agreed to acquire Mobidiag Oy, a privately held, commercial-stage Finnish-French developer of innovative molecular diagnostic tests and instrumentation, for an enterprise value of approximately $795 million.

This includes a cash payment of approximately $714 million (600 million euros) for Mobidiag's equity, and net debt of approximately $81 million.

The acquisition will further strengthen Hologic's international and diagnostics businesses by enabling it to expand into the large, fast-growing acute care adjacency with a near-patient testing solution.

Mobidiag develops and markets PCR (polymerase chain reaction)-based tests for acute care conditions such as gastrointestinal and respiratory infections, antimicrobial resistance management, and healthcare associated infections.

Their Amplidiag and Novodiag platforms are automated instruments that deliver rapid turnaround times ranging from 50 minutes to two hours.

The acquisition is expected to be approximately $0.10 dilutive to Hologic's adjusted earnings per share in fiscal 2022, slightly dilutive in 2023, and accretive thereafter. Hologic expects to finance the transaction with cash on hand and borrowing on its existing line of credit.

The acquisition is expected to close early in the fourth quarter of fiscal 2021, subject to receipt of certain required regulatory approvals and other customary closing conditions.

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