Hologic files lawsuit against Fleet

October 13, 1999

Hologic is suing Fleet Business Credit Corp. (formerly Sanwa Business Credit Corp.) over a contract dispute involving Hologic’s bone densitometers. Through its now-discontinued “strategic alliance program,” Bedford, MA-based Hologic sold

Hologic is suing Fleet Business Credit Corp. (formerly Sanwa Business Credit Corp.) over a contract dispute involving Hologic’s bone densitometers. Through its now-discontinued “strategic alliance program,” Bedford, MA-based Hologic sold densitometers to Fleet/Sanwa, which then leased them to physicians on a fee-per-scan basis and reimbursed Hologic for remarketing expenses. But Sanwa/Fleet claims it has incurred substantial losses under this arrangement and thus has not reimbursed Hologic for the remarketing expenses. Hologic’s suit seeks declaratory relief and damages related to Fleet/Sanwa’s contractual obligations, reimbursement of the remarketing expenses, and attorney’s fees.