Hologic announced that it has signed a definitive agreement to acquire Mobidiag Oy – a privately held, commercial-stage Finnish and French developer of molecular diagnostic tests and instrumentation – for an enterprise value of approximately $795 million, according to a news release.
This includes a cash payment of approximately $714 million (€600 million) for Mobidiag’s equity, and net debt of approximately $81 million.
“Acquiring Mobidiag will further strengthen our international and diagnostics businesses by enabling us to expand into the large, fast-growing acute care adjacency with a near-patient testing solution that offers ease of use, multiplex capability and rapid turnaround time,” said Jan Verstreken, Group President of International at Hologic. “We believe that Mobidiag has developed a differentiated platform that addresses many of the historical challenges of multiplexed point-of-care molecular testing.”
Mobidiag develops and markets PCR (polymerase chain reaction)-based tests for acute care conditions, such as gastrointestinal and respiratory infections, antimicrobial resistance management, and healthcare associated infections. The Amplidiag and Novodiag platforms are automated instruments that deliver rapid turnaround times, ranging from 50 minutes to two hours.
The acquisition is expected to close early in the fourth quarter of fiscal 2021, subject to receipt of certain required regulatory approvals and other customary closing conditions.
