Hologic Acquires Gyn Surgical Developer Interlace Medical For $125M
Hologic, Inc. (Hologic or the Company) (Nasdaq: HOLX), a leading developer, manufacturer and supplier of premium diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women, announced today it has acquired Interlace Medical, Inc. (Interlace), the developer and manufacturer of the MyoSure hysteroscopic tissue removal system (MyoSure). Interlace's operations will be integrated within Hologic's GYN Surgical Products division.
"The acquisition of Interlace is consistent with our strategy to strengthen our leadership position in women's healthcare," said Steve Williamson, Senior Vice President and General Manager, GYN Surgical Products. "MyoSure is an innovative technology that is designed to safely and easily remove fibroids and polyps that plague millions of women. This product is a natural extension of our industry-leading OB/GYN product portfolio which now provides women with minimally-invasive treatment options- from their child bearing years to menopause. 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."
Interlace, a privately-held company headquartered in Framingham, Massachusetts, is dedicated to developing innovative technologies to treat common gynecological diseases for improved patient outcomes while simplifying physician adoption and reducing the cost of healthcare.
The purchase price was $125 million in cash, subject to adjustment, plus two annual contingent payments. The contingent payments will be payable in cash and each will be calculated as a multiple of the incremental revenue growth over the prior year.
Knobbe Martens has been representing Interlace Medical since 2007, with Orange County partners Gerard von Hoffmann, Michael Guiliana, and Thomas Yee managing Interlace's intellectual property portfolio.
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