Hologic buys Faxitron for $85M

By AuntMinnie.com staff writers

August 2, 2018 -- Moving to expand its presence in the breast-conserving surgery market, women's imaging firm Hologic has purchased digital specimen radiography company Faxitron Bioptics for approximately $85 million.

Faxitron markets digital specimen radiography, breast lesion localization, and sentinel lymph node biopsy products mainly to breast surgeons and pathologists, Hologic said. In May, it received clearance from the U.S. Food and Drug Administration (FDA) for VisionCT, a clinical CT scanner for intraoperative margin assessment of breast biopsies and lumpectomies.

Faxitron produced approximately $27 million in revenue in its last fiscal year, Hologic said. The company expects the acquisition will be roughly neutral to its nongenerally accepted accounting principles earnings per share for the remainder of fiscal 2018 and 2019, then accretive thereafter.

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