por John R. Fischer
, Senior Reporter | October 19, 2021
Hologic is set to acquire Bolder Surgical, a private U.S. company that manufactures advanced energy vessel sealing surgical devices, for $160 million.
The deal is expected to broaden Hologic’s surgical portfolio and boost its laparoscopic offerings by adding laparoscopic vessel sealing, dividing and dissecting devices. “Together, we will accelerate, realizing Bolder’s vision to increase the efficiency of both surgeons and hospitals. Joining Hologic, with its similar mission, culture, and world-class portfolio of products, is an ideal fit for Bolder,” Robert Kline, Bolder Surgical’s president and chief executive officer, in a statement.
Through the deal, Hologic will help expand the use of Bolder’s devices to OB/GYN specialists, as well as collect approximately $10 million in product revenue that Bolder is expected to make this calendar year. While Bolder primarily supplies pediatrics with its solutions, Hologic estimates that there are five times more laparoscopic procedures performed in OB/GYN applications.
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Among the solutions Bolder offers are its CoolSeal devices, which include slender, dual action jaws for dissection, vessel sealing and dividing all in one device. The combination of these features is expected to help improve surgical efficiency by reducing the need to change instruments. It also has the JustRight 3 mm vessel sealer and the JustRight 5 mm stapler for small surgical spaces. These are often used in pediatric cases to reduce the need for larger, overpowered instruments.
Meanwhile, Hologic will offer these solutions as part of its surgical product line, which includes the NovaSure endometrial ablation system for treating abnormal uterine bleeding; the MyoSure tissue removal devices for addressing intrauterine fibroids and polyps; the Acessa laparoscopic radiofrequency ablation system for treating fibroids; and the Fluent fluid management system for streamlining hysteroscopic procedures.
“This acquisition is another good example of our capital deployment strategy, as we use our strong cash flow to add products that leverage our existing channel strength and accelerate our growth,” said Steve MacMillan, Hologic’s Chairman, president and chief executive officer.
The deal is one of many acquisitions made by Hologic this year. It most recently paid approximately $808 million to acquire Mobidiag Oy
, an innovator in near-patient, acute care molecular diagnostic testing. And before that, it paid $64 million to purchase SOMATEX Medical Technologies GmbH
, a developer of biopsy site markers and localization technologies, and approximately $230 million for Biotheranostics
, a privately held, commercial-stage company that provides molecular diagnostic tests for breast and metastatic cancers.
The acquisition is expected to be slightly dilutive to Hologic’s non-GAAP earnings per share in fiscal 2022, roughly break-even in fiscal 2023 and accretive thereafter.
The deal is subject to antitrust clearance and other customary closing conditions, and is expected to be completed at the end of the calendar year 2021.