Hologic to buy breast biopsy device manufacturer
Hologic Inc. on Tuesday announced plans to acquire Suros Surgical Systems Inc., a manufacturer of devices used for minimally invasive biopsy and tissue excision. The purchase price for the transaction is said to be $240 million and is expected to close by the end of second quarter.
Suros Surgical Systems Inc. is a privately held, Indiana-based manufacturer. The company’s ATEC (Automated Tissue Excision and Collection) line of products, include percutaneous, automatic vacuum assisted breast biopsy systems, ancillary breast biopsy devices and biopsy site markers. In addition to more conventional image guidance compatibility, the ATEC system also is capable of MRI-guided breast biopsy.
“The agreement to acquire Suros Surgical supports our strategy of maintaining our leadership position in women’s healthcare initiatives,” said Jack Cumming, chairman and CEO of Hologic. “This acquisition should further strengthen our capabilities within women’s healthcare by enabling our sales force to offer customers a comprehensive portfolio of product offerings in breast cancer detection.”
Suros Surgical saw 71 percent revenue growth in 2005 of approximately $27.2 million. Hologic expects sales related to this acquisition in the 2006 calendar year to be in excess of $40 million and for the transaction to be accretive to earnings in fiscal 2007.
Suros Surgical Systems Inc. is a privately held, Indiana-based manufacturer. The company’s ATEC (Automated Tissue Excision and Collection) line of products, include percutaneous, automatic vacuum assisted breast biopsy systems, ancillary breast biopsy devices and biopsy site markers. In addition to more conventional image guidance compatibility, the ATEC system also is capable of MRI-guided breast biopsy.
“The agreement to acquire Suros Surgical supports our strategy of maintaining our leadership position in women’s healthcare initiatives,” said Jack Cumming, chairman and CEO of Hologic. “This acquisition should further strengthen our capabilities within women’s healthcare by enabling our sales force to offer customers a comprehensive portfolio of product offerings in breast cancer detection.”
Suros Surgical saw 71 percent revenue growth in 2005 of approximately $27.2 million. Hologic expects sales related to this acquisition in the 2006 calendar year to be in excess of $40 million and for the transaction to be accretive to earnings in fiscal 2007.