Hologic Inc. (HOLX) is a manufacturer and supplier of diagnostic and surgical products used in the field of women’s health. This corporation has agreed to pay $85 million to take possession of the Canadian Sentinelle Medical Inc., which, on its side, manufactures and supplies parts and software for magnetic resonance imaging breast coils, tables, and visualization machines.
HOLX waits for the Canadian court’s approval, as well as Sentinelle investors, on the transaction in order to start the acquisition of Sentinelle Medical Inc.
The deal expanded HOLX stock market and pushed its shares up by 0.6% to reach $13.66. Hologic President and Chief Executive, Rob Cascella said that the deal “should further strengthen our comprehensive portfolio of product offerings in the areas of breast cancer detection and intervention".
Sentinelle is regarded as the best collaborator to Hologic in the medical business and industry, as it already makes and sells medical imaging systems.
The diagnostic-technology Hologic Company will also cover additional expenses of multiple incremental income growth in Sentinelle Medical's industry for the two years following the closing.
Hologic Corporation said the acquisition of Sentinelle will not influence its earnings on the financial gain of 2011, apart from the charges of the acquisition itself. Sentinelle's income was around $15 million in 2009.