April 9, 2021—Hologic has signed a definitive agreement to acquire Mobidiag Oy, a privately held Finnish-French developer of molecular diagnostic tests and instrumentation, for about $795 million.
Mobidiag develops and markets PCR-based tests for acute care conditions such as gastrointestinal and respiratory infections, antimicrobial resistance management, and health-care–associated infections. The company’s Amplidiag and Novodiag automated platforms deliver turnaround times ranging from 50 minutes to two hours. The Novodiag instrument combines real-time PCR and microarray capabilities. Hologic says it intends to invest in assay development to drive growth of the Novodiag platform.
“One of our key goals is to use our strong cash flow to create a larger, faster growing company for a post-pandemic world,” Steve MacMillan, Hologic’s chair, president, and chief executive officer, said in a press release. “Mobidiag provides an exceptional new growth platform, which will generate long-term value by enabling us to enter the acute care market, which is expected to roughly double in the next five years, with a differentiated, highly competitive solution.”
Mobidiag generated approximately $42 million, or €35 million, of revenue last year. The acquisition is expected to close early in the fourth quarter of fiscal 2021.