Hologic Sells Interventional Radiology Business to Philips for $225M

TL;DR

Hologic selling IR biz to Philips for $225M, focusing on core growth areas.

AI Summary

Hologic, Inc. announced on September 12, 2024, that it has entered into a definitive agreement to sell its Interventional Radiology (IR) business to Royal Philips for $225 million. The transaction is expected to close in the first half of fiscal year 2025, subject to customary closing conditions. This divestiture aligns with Hologic's strategy to focus on its core businesses in diagnostics, breast health, and skeletal health.

Why It Matters

This sale allows Hologic to streamline its operations and concentrate on its higher-growth segments, potentially leading to improved financial performance and strategic focus. For Philips, it represents an expansion in the interventional imaging market.

Risk Assessment

Risk Level: medium — The sale is subject to customary closing conditions, and the integration of the business by Philips may present challenges.

Key Numbers

• $225 million — Sale Price (Hologic's Interventional Radiology business sold to Royal Philips.)

Key Players & Entities

• Hologic, Inc. (company) — Seller
• Royal Philips (company) — Buyer
• $225 million (dollar_amount) — Sale price
• September 12, 2024 (date) — Announcement date
• first half of fiscal year 2025 (date) — Expected closing period

FAQ

Key Financial Figures

• $1.5 billion — h a five-year term, to repurchase up to $1.5 billion of the Company's outstanding common sto

Filing Documents

• ef20035675_8k.htm (8-K) — 29KB
• 0001140361-24-041054.txt ( ) — 160KB
• holx-20240912.xsd (EX-101.SCH) — 4KB
• holx-20240912_lab.xml (EX-101.LAB) — 21KB
• holx-20240912_pre.xml (EX-101.PRE) — 16KB
• ef20035675_8k_htm.xml (XML) — 4KB

01

Item 8.01 Other Events. Stock Repurchase Program On September 12, 2024, the Board of Directors of Hologic, Inc. (the "Company") authorized a new stock repurchase program, with a five-year term, to repurchase up to $1.5 billion of the Company's outstanding common stock. This new stock repurchase authorization is in addition to the Company's prior stock repurchase authorization, which has approximately $ 190 million remaining as of September 12, 2024. The timing of any stock repurchases will be based upon the continuing analysis of market, financial, and other factors by the Company's management. Repurchases under the authorized stock repurchase program may be made using a variety of methods, which may include, but are not limited to, open market purchases, privately negotiated transactions, accelerated share repurchase agreements, or purchases pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The authorized stock repurchase program may be suspended, delayed or discontinued at any time. Cautionary Note Regarding Forward-Looking Statements. This communication contains forward-looking statements, including statements related to the Company's expectations with respect to repurchases of common stock, including the timing and manner of any purchases under the Company's authorized stock repurchase program . These forward-looking statements are covered by the "Safe Harbor for Forward-Looking Statements" provided by the Private Securities Litigation Reform Act of 1995. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "estimate," "plan," "will," "would," "should," "could," "intend" or similar expressions, but these words are not the exclusive means for identifying such statements. The Company cautions that a number of risks, uncertainties and other factors could cause the Company's plans and actual results to differ materially from those expressed i

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 13, 2024 HOLOGIC, INC. By: /s/ Karleen M. Oberton Karleen M. Oberton Chief Financial Officer

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View this 8-K filing on SEC EDGAR