Hologic completes its third acquisition of 2021, with the purchase of Belgium-based biotech Diagenode.
Hologic saw its diagnostics revenue increase by 450% last quarter, due to increased demand from the pandemic and is being prudent with its profit and is reinvesting with focused M&A activity across the full spectrum of medical devices and biotech markets.
A quote from Hologic’s Chairman, Steve MacMillan read “We are excited to put our strong cash flow to work to acquire Diagenode and further strengthen our diagnostics business, which has had tremendous momentum in the United States and internationally”.
“The acquisition is consistent with our tuck-in M&A strategy, leverages our automation capabilities, and provides attractive growth potential,” MacMillan said. “And combined with our recent purchase of Biotheranostics, it enables us to continue strengthening our base diagnostics business to accelerate growth post-COVID.”
Diagenode’s main products test for sexual transmitted infections, respiratory diseases, meningitis and gastroenteritis.
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