HQ Team
October 21, 2025: Hologic Inc., which specialises in women’s health diagnostics, is set to be acquired in a deal worth $18.3 billion backed by asset managers Blackstone and TGP.
The two managers will pay a total of $79 a share to Hologic, headquartered in Marlborough, Massachusetts, according to a statement.
All outstanding shares will be bought at $76 in cash, and an additional $3 will be paid as a non-tradable contingent value right in two payments of up to $1.50 each upon reaching certain milestones.
The non-tradable right would be issued to Hologic stockholders at closing and paid, in whole or in part, following achievement of certain global revenue goals for Hologic’s Breast Health business in fiscal years 2026 and 2027, according to a Blackstone statement.
Other investors
“The transaction includes significant minority investments from a wholly owned subsidiary of the Abu Dhabi Investment Authority and an affiliate of GIC,” according to the statement.
Hologic products include diagnostics, breast and skeletal health and surgical procedures performed by a gynaecologist on the female reproductive organs. The company employs more than 7,000 people in more than 36 countries.
The transaction is expected to close in the first half of calendar year 2026.
Blackstone and TPG have secured committed financing for the transaction and have given a debt financing commitment letter from Citi, Bank of America, Barclays, Royal Bank of Canada and SMBC, and equity commitment letters from funds advised by Blackstone and TPG.
TPG is investing in Hologic through TPG Capital, the firm’s U.S. and European private equity platform.
45-day ‘go shop’ period
Upon completion of the transaction, Hologic’s common stock will be delisted from the Nasdaq stock market. The Company will maintain its headquarters in Marlborough, Massachusetts, and will continue to operate under the Hologic name and brand.
The Hologic Board of Directors will have the right to terminate the merger agreement to enter into a transaction providing for a superior proposal, subject to the terms and conditions of the merger agreement, that has a 45-day “go shop” period.
Blackstone’s $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds.
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $261 billion of assets under management
