Hologic to acquire Cynosure

Hologic and Cynosure announced today that they have signed a definitive agreement in which Hologic will acquire the medical aesthetics company, according to a press release.

Hologic, with core business units focusing on diagnostics, breast health, GHN surgical and skeletal health, has agreed to acquire all shares of Cynosure for $66 per share in cash, corresponding to an equity value of approximately $1.65 billion and an enterprise value of $1.44 billion net of cash, according to the release.

The transaction has been approved by the boards of directors of both companies.

“Acquiring Cynosure will accelerate our transformation into a higher-growth company by leveraging our core women’s health expertise and OB/GYN channel leadership into an adjacent, cash-pay segment that is expanding at a low double-digit rate,” Steve MacMillan, Helogic’s chairman and CEO, stated in the release. “We identified medical aesthetics as an attractive and complementary growth opportunity through our strategic planning process, and are pleased to have agreed to acquire Cynosure.”

Cynosure has reported revenues of $433.5 million in 2016, and has a product portfolio in categories including non-invasive body contouring, hair removal, skin revitalization and women’s health. Cynosure’s has introduced SclupSure, the world’s first FDA-laser treatment of non-invasive body contouring, and markets MonaLisaTouch, a novel CO₂ laser for women’s health.

“Strategically, this deal enables Cynosure to further capitalize on growth opportunities in the core and non-core aesthetic market, rapidly strengthens our position in women’s health – where Helogic has a leading commercial presence and accelerates our R&D initiatives," Michael Davin, Cynosure's president and CEO, stated in the release.

Reference: www.hologic.com