Hologic

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Hologic
Type Public
Traded as NASDAQHOLX
Industry Medical products
Headquarters Bedford, Massachusetts, U.S.
Key people Stephen P. MacMillan
President and CEO
Revenue US$ 2.49 billion (2013)
Operating income US$ −0.9 billion (2013)
Net income US$ −1.19 billion (2013)
Employees 5,615 (2013)
Website www.hologic.com

Hologic corporation is a developer, manufacturer and supplier of diagnostic and medical imaging systems related to women's health. It develops digital imaging technology for general radiography and mammography applications. Its core business units are focused on osteoporosis assessment, gynecologic health, mammography and breast biopsy, direct-to-digital x-ray for general radiography applications and mini C-arm imaging for orthopedic applications. Its major brands include Lorad, Fluoroscan, NovaSure, MyoSure, Selenia, Securview, Discovery, Multicare and Directray.

Hologic is a leader in women's healthcare, particularly breast cancer diagnosis.[1]

Hologic is currently developing tomosynthesis technology for breast cancer diagnosis. Hologic first demonstrated the technology at the Radiological Society of North America in November 2003. It provided patient images and a prototype add-on to its Selenia digital mammography system. Clinical trials for Hologic's tomosynthesis technology began in the summer of 2004.[2]

Hologic was the recipient of Frost and Sullivan's 2004 Technology Leadership of the Year Award in women's healthcare.[2]

Hologic/Cytyc Merger[edit]

On May 20, 2007, Hologic announced a merger (via a cash and stock transaction) with the Cytyc Corporation to create a $10 billion women's healthcare company with over $1 billion in projected annual sales.[3] The new company name will be "Hologic" and Cytyc will be a wholly owned subsidiary. The combined corporation will deal in products for screening, diagnostics and therapy for breast and cervical cancer, menorrhagia, prenatal health, osteoporosis, endometriosis and permanent contraception.[4] The brands under the combined company include, ThinPrep, Lorad, NovaSure, Suros ATEC, Discovery, Rapid fFN, R2 and MammoSite, and it will have operations in over twenty countries.[5] Patrick Sullivan, of Cytyc will be chairman of the new company, and Jack Cumming, of Hologic, will be Chief Executive Officer.[5] Cytyc shareholders will hold 55% of the firm, and Hologic will own 45%.

Hologic/Gen-Probe Merger[edit]

On April 30, 2012, Hologic announced a merger with Gen-Probe for about $3.72 billion by cash.

Infiltration by Carl Icahn[edit]

In late November 2013, activist investor Carl Icahn disclosed a 12.5% stake in the company. Subsequently, the company adopted a poison pill to prevent a hostile takeover. In negotiations with the Company's board of directors, two additional directors backed by Mr. Icahn were added to the board, each managing directors of Icahn holding companies.[6]

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