HOLX - Hologic to consolidate international presence with Mobidiag acquisition

Hologic (HOLX) has agreed to acquire Mobidiag, a privately held Finnish French commercial company focused on molecular diagnostic tests and instrumentation, for an enterprise value of $795M.The transaction is comprised of ~$714M (€600M) for Mobidiag’s equity, plus net debt of ~$81M. It is funded by cash on hand and Hologic’s borrowing on its existing credit line. Mobidiag has posted ~$42M (€35M) in revenue in 2020.With Hologic intending to invest for growth of the company’s Novodiag platform, the transaction is anticipated to be ~$0.10 dilutive to Hologic’s non-GAAP EPS in fiscal 2022, marginally dilutive in 2023, and accretive thereafter.“Acquiring Mobidiag will further strengthen our international and diagnostics businesses by enabling us to expand into the large, fast-growing acute care adjacency,” commented Jan Verstreken, group president, international at Hologic.The transaction is expected to close in Q4 2021 subject to customary closing conditions and regulatory approvals. Mobidiag acquisition is the latest sign of Hologic’s

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Hologic to consolidate international presence with Mobidiag acquisition