Hologic to Acquire Gynesonics, Developer of Minimally Invasive Solutions for Women's Health
Hologic, Inc. (NASDAQ:HOLX), a global champion of women's health, today announced that it has signed a definitive agreement to acquire Gynesonics, Inc. (Gynesonics®), a privately held medical device company focused on the development of minimally invasive solutions for women's health for approximately $350 million, subject to working capital and other customary closing adjustments.
Gynesonics, which is based in Redwood City, California, develops and sells the Sonata® System, a technology intended for diagnostic intrauterine imaging and transcervical treatment of certain symptomatic uterine fibroids, including those associated with heavy menstrual bleeding. The Sonata System combines real-time intrauterine ultrasound guidance with targeted radiofrequency ablation in an incisionless procedure.
"Gynesonics' Sonata System complements our offering and will give GYN surgeons across the globe an expanded range of options to treat women suffering from heavy periods and fibroids," said Brandon Schnittker, Division President of Surgical Solutions at Hologic. "This acquisition furthers our commitment to providing women with minimally invasive treatment options. We are enthusiastic about the future as we work to expand access to and drive innovation for treatments that enhance women's quality of life."
Completion of the acquisition is subject to customary closing conditions, including receipt of required regulatory approvals.
About Hologic, Inc.
Hologic, Inc. is a global champion of women's health, focused on developing innovative medical technologies that effectively detect, diagnose and treat health conditions and raise the standard of care around the world. For more information on Hologic, visit www.hologic.com.
About Gynesonics
Gynesonics pioneered and launched the Sonata System, the first FDA-cleared medical device for diagnostic intrauterine imaging and transcervical treatment of certain symptomatic uterine fibroids. The Sonata System is an incisionless solution, clinically proven to reduce fibroid symptoms. For more information, go to www.gynesonics.com.
Forward-Looking Statements
This news release may contain forward-looking information that involves risks and uncertainties, including statements about the use of Hologic and Gynesonics products and Hologic and Gynesonics plans, objectives, expectations and intentions. Such statements include, but are not limited to, financial or other information based upon or otherwise incorporating judgments or estimates relating to future performance, events or expectations; each company's strategies, positioning, resources, capabilities, and expectations for future performance; and each company's outlook and financial and other guidance. There can be no assurance the Hologic or Gynesonics products will achieve the benefits described herein or that such benefits will be replicated in any particular manner with respect to an individual patient, as the actual effect of the use of the products can only be determined on a case-by-case basis, or that the products will be commercially successful or achieve any expected level of sales. These forward-looking statements are based upon assumptions made as of this date and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated.
Risks and uncertainties that could adversely affect either Hologic's or Gynesonics' business and prospects, and otherwise cause actual results to differ materially from those anticipated, include without limitation: the risk that conditions to closing the proposed acquisition will not be satisfied; the possibility that the anticipated benefits from the proposed transaction or products cannot be fully realized or may take longer to realize than expected; the possibility that costs or difficulties related to the integration of Gynesonics operations with those of Hologic will be greater than expected; the ability of Hologic and Gynesonics to retain and hire key personnel; the coverage and reimbursement decisions of third-party payers and the guidelines, recommendations, and studies published by various organizations relating to the use of products and treatments; the ability to successfully manage ongoing organizational and strategic changes, including Hologic's ability to attract, motivate and retain key employees; the development of new competitive technologies and products; regulatory approvals and clearances for products or the proposed transaction; the anticipated development of markets in which products are sold into and the success of products in these markets; the anticipated performance and benefits of products; estimated asset and liability values; anticipated trends relating to Hologic's financial condition or results of operations; and Hologic's capital resources and the adequacy thereof; and other factors described in Hologic's filings with the SEC. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements presented herein to reflect any change in expectations or any change in events, conditions or circumstances on which any such statements are based.
Hologic and The Science of Sure are trademarks and/or registered trademarks of Hologic, Inc., and/or its subsidiaries in the United States and/or other countries. All other trademarks, registered trademarks, and product names are the property of their respective owners.
Source: Hologic, Inc.
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