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.
With over 275 lawyers and scientists nationwide, Knobbe Martens Olson & Bear LLP dedicates its practice to all aspects of intellectual property law including litigation. Knobbe Martens serves a diverse group of clients from multinational corporations to emerging businesses of all stages. KnobbeMedical.com is presented by the IP attorneys of Knobbe Martens and is a cooperative portal for entrepreneurs, executives, clinicians, researchers, investors, and corporate board members who are exploring a start-up, joint venture or spin-off in the medical device industry. The expertise we have developed through our decades of medical device law practice are showcased throughout the site and are available free of charge to emerging medical device companies. The firm is headquartered in Orange County, California with offices in San Diego, Los Angeles, Riverside, San Francisco, Seattle, and Washington, D.C., and enjoys an international reputation for excellence. More information about the firm can be found at www.knobbe.com and www.knobbemedical.com.
