Women’s Healthcare Company Transitions to Private Equity as CEO Who Led for 12 Years Steps Down

Hologic, Inc. (NASDAQ: HOLX), a women’s healthcare company, announced that its merger with Blackstone and TPG—under which it will go private—is expected to close around April 7. Steve MacMillan, who has served as chairman and CEO for 12 years, will retire upon deal completion, the company disclosed. Hologic said it has already secured all regulatory approvals and plans to appoint a new CEO at closing.

At a special shareholder meeting on February 5, Hologic approved the merger with Blackstone and TPG, valued at up to $79 per share in cash and contingent value rights. In its first-quarter earnings report, the company noted that both profitability and revenue fell short of market expectations.

Hologic is a U.S. medical technology firm specializing in diagnostic equipment and tests for women’s health issues such as breast and cervical cancer. It operates four divisions—Diagnostics, Breast Health, Gynecological Surgical Procedures, and Skeletal Health—and has expanded its footprint in women’s health–focused medical devices and diagnostics through recent M&A activity and R&D investments. The private-equity acquisition is valued at approximately $18.3 billion, including debt (around KRW 24 trillion).