Hologic agrees Interlace Medical acquisition

Hologic is purchasing Interlace Medical, the manufacturer of the MyoSure hysteroscopic tissue removal system, for a price of $125 million (80.4 million pounds).

The deal will see Interlace integrated into Hologic's gynaecological surgical products division and will also involve the payment of two annual contingent fees, calculated as a multiple of Hologic's incremental revenue growth over the prior year.

MyoSure is designed as a means of removing intracavitary fibroids and polyps that cause abnormal uterine bleeding and pains in a fast, safe and incision-free manner.

Steve Williamson, senior vice-president and general manager of gynaecological surgical products at the company, said the takeover strengthens Hologic's position in the women's health sector.

He added: "The strong clinical performance and ease of use of the MyoSure device make it a natural fit with our NovaSure endometrial ablation and Adiana permanent contraception product lines."

According to Hologic's most recent financial report in November 2010, the company experienced a year-on-year growth in revenue during the 2010 fiscal year.