Toronto’s Sentinelle Medical, a leader in breast imaging technologies using high-field strength MRI to help in the earlier detection and better treatment of breast cancer, was acquired by US-based Hologic Inc.
Hologic Inc. is a leading developer, manufacturer and supplier of premium diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women.
"We are proud of the innovations we have introduced with our MRI solutions and are very pleased with our accomplishments to date," said Cameron Piron, President and CEO of Sentinelle Medical.
"This merger is a natural fit. Our expertise in MR breast imaging combined with Hologic's resources should further accelerate the adoption of our technology and ultimately benefit physicians and improve patient care."
The purchase price for the transaction will be $85 million, plus a two-year contingent earn out. The transaction is expected to close during the third calendar quarter.
"The agreement to acquire Sentinelle Medical is a further example of our strategy to maintain a leadership position in women's healthcare," said Rob Cascella, President and Chief Executive Officer, Hologic.
"Magnetic Resonance is rapidly becoming a standard of care for breast cancer screening of women indicated as having a high risk of developing the disease. This acquisition should further strengthen our comprehensive portfolio of product offerings in the areas of breast cancer detection and intervention."
Sentinelle Medical's revenue in calendar 2009 was approximately $15 million.
Benefits of the Acquisition:
The anticipated strategic benefits of the transaction include, among others:
• Broadens Hologic's presence in women's health by offering additional products through existing sales channels. Current sales force is uniquely positioned to capitalize on the growing interest in high-performance MR coils for breast imaging.
• Leverages best-in-class coil technology for leading MR systems across other anatomy- specific applications.
• Complements Hologic's efforts in bringing beneficial imaging modalities to market through advanced research and development capabilities. This combination is expected to expedite new advances in breast imaging.
Source: Hologic Inc.
Hologic Inc. is a leading developer, manufacturer and supplier of premium diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women.
"We are proud of the innovations we have introduced with our MRI solutions and are very pleased with our accomplishments to date," said Cameron Piron, President and CEO of Sentinelle Medical.
"This merger is a natural fit. Our expertise in MR breast imaging combined with Hologic's resources should further accelerate the adoption of our technology and ultimately benefit physicians and improve patient care."
The purchase price for the transaction will be $85 million, plus a two-year contingent earn out. The transaction is expected to close during the third calendar quarter.
"The agreement to acquire Sentinelle Medical is a further example of our strategy to maintain a leadership position in women's healthcare," said Rob Cascella, President and Chief Executive Officer, Hologic.
"Magnetic Resonance is rapidly becoming a standard of care for breast cancer screening of women indicated as having a high risk of developing the disease. This acquisition should further strengthen our comprehensive portfolio of product offerings in the areas of breast cancer detection and intervention."
Sentinelle Medical's revenue in calendar 2009 was approximately $15 million.
Benefits of the Acquisition:
The anticipated strategic benefits of the transaction include, among others:
• Broadens Hologic's presence in women's health by offering additional products through existing sales channels. Current sales force is uniquely positioned to capitalize on the growing interest in high-performance MR coils for breast imaging.
• Leverages best-in-class coil technology for leading MR systems across other anatomy- specific applications.
• Complements Hologic's efforts in bringing beneficial imaging modalities to market through advanced research and development capabilities. This combination is expected to expedite new advances in breast imaging.
Source: Hologic Inc.
