Hologic announced that it’s entered an agreement to be acquired by funds managed by Blackstone and TPG in a transaction valued at $79 per share, representing an enterprise value of up to $18.3 billion.

Under the agreement’s terms, Blackstone and TPG will acquire all outstanding Hologic shares for $76 per share in cash plus a non-tradeable contingent value right (CVR) to receive up to $3 per share. The non-tradeable CVR would be issued to Hologic stockholders at closing and paid after achievement of revenue goals for Hologic’s Breast Health business in fiscal years 2026 and 2027.

The aggregate purchase price is a premium of about 46% to Hologic’s closing price on May 23. The transaction includes significant minority investments from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) and an affiliate of GIC.

“Today marks an exciting new chapter for Hologic as we join forces with the exceptional teams at Blackstone and TPG,” said Stephen P. MacMillan, Hologic’s chairman, president, and CEO. “With their resources, expertise and commitment to women’s health, Blackstone and TPG will help accelerate our growth and enhance our ability to deliver critical medical technologies to customers and their patients around the world. This transaction delivers immediate and compelling value to Hologic stockholders, reflecting the dedication of our employees whose hard work has made this milestone possible.”

The transaction is expected to close in the first half of 2026. Hologic’s board has unanimously approved the merger agreement and recommended that stockholders vote their shares to approve the transaction and adopt the merger agreement.

The merger agreement includes a 45-day “go-shop” period, during which time Hologic and its advisors may solicit, consider, and negotiate alternative acquisition proposals from third parties. The Hologic board will have the right to terminate the merger agreement to enter a transaction providing for a superior proposal.

Once the transaction is completed, the company will be delisted from the Nasdaq stock market. The company will keep its headquarters in Marlborough, Mass. and continue to operate under the Hologic name and brand.

“Hologic is an outstanding global leader in advancing women’s health, with a longstanding reputation for groundbreaking and high-quality medical device and diagnostic products,” said Ram Jagannath, a senior managing director at Blackstone. “We have closely followed the Company for many years and long admired the positive impact its life-changing technologies have had for millions of patients worldwide. We are thrilled to partner with its highly talented and capable employees, alongside TPG, to further invest in Hologic’s continued product innovation and growth.”

“Hologic’s innovation-driven medical products and technologies are advancing detection and care to improve health outcomes for women around the world,” added John Schilling, MD, co-managing partner of TPG Capital. “Investing behind healthcare innovation has been a core focus for TPG for decades, and Hologic represents a compelling opportunity to draw upon our deep thematic expertise to support the development of next-generation solutions that will continue to promote strong clinical results and enhance patient care. We’re proud to partner with the Hologic team and Blackstone in this exciting new chapter.”