Key Highlights
- Blackstone and TPG finalized Hologic’s acquisition on April 7, 2026, valuing shares at up to $79 each.
- The deal provides shareholders $76 cash upfront plus conditional value rights worth up to $3 per share based on Breast Health division performance.
- Abu Dhabi Investment Authority and GIC participated as minority stakeholders.
- Joe Almeida succeeded retiring CEO Stephen MacMillan, who led the company for over 12 years.
- Trading of HOLX shares ended with delisting from Nasdaq completed.
On April 7, 2026, Hologic exited public trading as Blackstone and TPG finalized their acquisition of the medical technology firm in a transaction worth up to $79 per share.
Originally unveiled on October 21, 2025, the buyout secured shareholder endorsement on February 5, 2026. The deal structure includes minority equity participation from an Abu Dhabi Investment Authority subsidiary and a GIC affiliate.
Under the agreement terms, stockholders received immediate payment of $76 per share. Additionally, they obtained non-transferable contingent value rights potentially worth $3 per share — distributed as two separate $1.50 payments — contingent upon Hologic achieving specific global revenue benchmarks for its Breast Health segment during fiscal 2026 and 2027.
This conditional payment mechanism means shareholders only realize the complete $79 valuation if revenue targets are successfully met. The performance-based component adds an interesting dimension to the transaction’s ultimate value.
Prior to closing, Hologic recorded trailing twelve-month revenue of $4.13 billion, maintained a 60% gross margin, and showed a current ratio exceeding 4. The company carried a market capitalization of $16.97 billion.
Its latest quarterly performance fell short of Wall Street expectations. The company generated $1.05 billion in revenue against a $1.07 billion consensus estimate, while adjusted earnings per share of $1.04 missed the anticipated $1.09.
Executive Transition
Stephen MacMillan concluded his tenure as CEO at the transaction’s closing, wrapping up more than 12 years leading Hologic. Joe Almeida assumed the Chief Executive Officer position immediately and was appointed as the company’s sole board director.
Almeida brings extensive medical technology industry experience. His background includes serving as Chairman, President and CEO of Baxter International from 2016 through early 2025, and previously holding identical positions at Covidien before its 2015 acquisition by Medtronic.
The executive appointment reflects the strategic vision of the new ownership — Blackstone, overseeing $1.3 trillion in assets, and TPG, managing $303 billion — to drive expansion under private ownership.
The acquisition triggered comprehensive changes to Hologic’s equity structure. Employee stock options and equity compensation received settlement through combinations of cash and CVR-linked distributions, while deeply out-of-the-money options were terminated without value.
Delisting Completed
HOLX shares permanently ceased public trading. The company’s Nasdaq listing was terminated, transforming Hologic into a privately held entity under the Blackstone-TPG ownership group.
Shares concluded trading at $76.01 on the final session — virtually matching the 52-week peak of $76.07, demonstrating how precisely market pricing anticipated the deal’s consummation.
Six Wall Street analysts had lowered their earnings projections for future periods before the transaction closed. The final analyst recommendation on HOLX was rated as Buy with an $83 price objective.
InvestingPro had awarded Hologic a “GREAT” financial health rating before the acquisition was finalized.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
