Hologic is still sorting out its business units after buying Gen-Probe for $3.8 billion, and the company took a deeper loss in the first quarter despite a 30% increase in total sales.
Hologic is selling off one of the diagnostics businesses it snagged in last year's $3.8 billion buy of Gen-Probe, unloading its Lifecodes unit to Immucor for $85 million up front.
Last year, J&J topped our deals list with a $21.3 billion handshake to soak in Synthes, so 2012 was relatively tame in comparison, as the titans of devices and diagnostics largely held back on banner acquisitions or opted instead to dink and dunk as needed--the Boston Scientific method.
We are hitting the closing days of 2012 without larger-scale medical device or diagnostic industry M&A to crow about. But observers believe that a lot of elements are now in place to boost that activity substantially for 2013. Check out the report >>
Step back and look at the trend in biopharma M&A and you'll find less money than you would have seen on the table last year. Read the report on this year's dealmaking climate >>
Hologic recorded a huge drop in net income in the fiscal fourth quarter, but the company says revenue from its $3.8 billion acquisition of Gen-Probe will make for a more profitable 2013.
Hologic scored a legal victory over Becton Dickinson, as a U.S. district judge ruled that BD infringed upon diagnostic patents owned by Hologic's recently acquired Gen-Probe.
The deal is done. Hologic ($HOLX) is now the new owner of molecular diagnostics rising star Gen-Probe, after closing the $3.8 billion deal Wednesday.
Diagnostics firm Hologic saw its profits drop by more than $12 million in the third quarter compared to the previous fiscal year, but the company is confident its $3.7 billion cash buyout of Gen-Probe will bring a bright future.
Hologic's $3.7 billion cash buyout of molecular diagnostics darling Gen-Probe ($GPRO) will close by the end of this month, both companies disclosed. And it is clear executives from the soon-to-be-acquired outfit will have cachet in the new order.