Hologic, Inc. announced on July 25 that it completed its previously announced acquisition of Endomagnetics Ltd, a privately held UK-based developer of breast cancer surgery technologies, for approximately $310 million.
Endomagnetics, also called Endomag, develops and sells breast surgery localization and lymphatic tracing technologies. The Cambridge, United Kingdom-based company was founded in 2007 and produces surgical guidance products that assist surgeons in locating and removing cancerous tumors, predominantly for breast cancer surgery. Its products include the Magseed® marker for magnetic tissue localization before surgery, the Magtrace® lymphatic tracing injectable for breast cancer staging and the Sentimag® platform, which supports both localization and lymphatic tracing. Endomag generated approximately $35 million of revenue in FY 2023, according to the original deal press release from April 29, 2024.
Founded in 1985, Hologic, Inc. develops, manufactures and sells premium diagnostic products, medical imaging systems and surgical products, primarily for women’s health. According to its most recent annual report, Hologic’s revenue for the twelve months ending December 31, 2023, was approximately $4 billion, and EBITDA was $992 million.
“We are thrilled to complete the acquisition of Endomag and are looking forward to working with our new colleagues to increase access to their innovative technologies, which complement and diversify our expanding interventional breast health portfolio,” said Erik Anderson, President of Breast and Skeletal Health Solutions at Hologic. “With our shared commitment to advancing women’s health globally, we are excited to improve outcomes for patients and, together with our customers, redefine the standard of care for breast cancer intervention.”
The transaction adds Endomag’s wireless breast surgery localization and lymphatic tracing solutions – including the Magseed® marker, the Magtrace® lymphatic tracer and the Sentimag® platform – to Hologic’s breast surgery portfolio, providing breast surgeons and radiologists with an expanded range of options and enhanced user experience.
According to data captured in the LevinPro HC database, there have been 53 Medical Device deals announced so far this year. There were 113 Medical Device deals announced during 2023, and 124 announced during 2022.
