Hologic (HOLX) to Sell LIFECODES Unit in $95M Deal
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Hologic, Inc. (Nasdaq: HOLX) announced that it has entered into a definitive agreement to sell its LIFECODES business unit to Immucor, Inc.
Under the terms of the agreement, Hologic will receive $85 million in cash at closing, subject to certain adjustments, and have the opportunity to earn a contingent payment of $10 million based on achievement of certain financial targets for the calendar year 2013.
The transaction is subject to customary closing conditions, including expiration of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The transaction is expected to close during the second fiscal quarter.
The sale of LIFECODES was taken into consideration when the Company issued financial guidance for fiscal 2013 on November 12, 2012.
Hologic acquired the LIFECODES business unit as part of its acquisition of Gen-Probe Incorporated, which was completed on August 1, 2012. LIFECODES sells molecular and antibody-based assays in the markets of transplant diagnostics, specialty coagulation and transfusion medicine.
Under the terms of the agreement, Hologic will receive $85 million in cash at closing, subject to certain adjustments, and have the opportunity to earn a contingent payment of $10 million based on achievement of certain financial targets for the calendar year 2013.
The transaction is subject to customary closing conditions, including expiration of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The transaction is expected to close during the second fiscal quarter.
The sale of LIFECODES was taken into consideration when the Company issued financial guidance for fiscal 2013 on November 12, 2012.
Hologic acquired the LIFECODES business unit as part of its acquisition of Gen-Probe Incorporated, which was completed on August 1, 2012. LIFECODES sells molecular and antibody-based assays in the markets of transplant diagnostics, specialty coagulation and transfusion medicine.
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