- Hologic (NASDAQ:HOLX) inks an agreement to acquire medical laser outfit Cynosure (CYNO) for $66/share in cash ($1.65B).
- Hologic chief Steve McMillan says, "Acquiring Cynosure will accelerate our transformation into a higher-growth company by leveraging our core women's health expertise and OB/GYN channel leadership into an adjacent, cash-pay segment that is expanding at a low double-digit rate. We had identified medical aesthetics as an attractive and complementary growth opportunity through our strategic planning process, and are pleased to have agreed to acquire Cynosure, the best-in-class company in the space. Together, we can strengthen our shared focus on innovation, market-leading products with demonstrated clinical benefits, and strong customer relationships. "
- Hologic says the deal will be immediately accretive on a non-GAAP basis, adding $0.03 to 0.05 per share this year and $0.13 - 0.15 in 2018.
- The transaction should close no later than April.
- CYNO closed yesterday at $51.50. HOLX is down 2% premarket on light volume.