Hologic announces takeover of Cynosure

Hologic has announced the acquisition of Cynosure, a leading provider of medical aesthetic systems and technologies.

The deal has been valued at $1.65 billion (1.32 billion pounds) in terms of equity value, or $1.44 billion in enterprise value terms, and will expand Hologic's scientific and commercial capabilities in a fast-growing segment of the market.

Cynosure offers a broad portfolio of more than 20 products, selling products for non-invasive body contouring, hair removal, skin revitalisation and women's health through a combination of direct sales and distribution deals spanning more than 130 countries.

These include the recently-launched SculpSure, the first US-approved laser treatment for non-invasive body contouring, and MonaLisa Touch, a novel CO2 laser for women's health applications.

The company reported revenues of $433.5 million in 2016 and has posted 28 consecutive quarters of year-on-year top-line growth. It is expected that the deal will be completed during March or April.

Steve MacMillan, Hologic's chairman, president and chief executive officer, said: "Together, we can strengthen our shared focus on innovation, market-leading products with demonstrated clinical benefits, and strong customer relationships."

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