In a $64-million deal, Hologic has acquired SOMATEX Medical Technologies GmbH, effectively expanding its breast health care solutions capabilities.
In a $64-million deal, women’s health technology vendor Hologic, Inc., has acquired SOMATEX Medical Technologies GmbH, effectively expanding its portfolio of innovative breast health care solutions.
Announced Monday, Jan. 4, this deal will fold SOMATEX’S expertise in biopsy site markers and localization technologies into the continuum of care that Hologic seeks to provide, company officials said.
“The acquisition of SOMATEX allows us to expand our biopsy portfolio by providing a suite of market-leading solutions that not only address our customers’ needs, but also improve the biopsy experience for their patients,” said Jennifer Meade, Hologic’s division president of breast and skeletal health solutions. “We’ve had a strong partnership with SOMATEX for several years, which along with our shared focus on innovation, will allow us to quickly integrate and begin building a pipeline that will drive profitable growth and recurring revenue for our breast health business globally.”
With this acquisition, SOMATEX, which was previously owned by German investment group E-Med Solutions GmbH and is expected to have generated $13 million during calendar year 2020, brings with it a specialization in the development and manufacturing of minimally invasive devices focused on tumor diagnostics, biopsy, and interventional specialties, such as the Tumark® family of tissues markers that Hologic already distributed prior to the acquisition.
But, the deal also augments Hologic’s sales capabilities in Europe, according to a company statement. This partnership opens the door for a direct sales channel to Germany and its other international partners.
“For years, SOMATEX has been committed to driving innovative, best-in-class tumor marker and localization solutions for our customers and their patients and to becoming a leader in our space,” said Joerg Heise, SOMATEX managing director. “We are excited to continue this journey through Hologic and their global footprint, providing so many more with access to these pioneering technologies that aid in the early detection and treatment of breast cancer.”