Hologic to Sell Blood-Screening Business to Grifols for USD 1.85 Billion
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By LabMedica International staff writers Posted on 15 Dec 2016 |
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US medical device maker Hologic, Inc. (Bedford, MA, USA) has agreed to sell off its share of the Procleix blood-screening business to long-time partner, Grifols SA (Barcelona, Spain), for USD 1.85 billion in cash.
Hologic develops, manufactures, and supplies diagnostic products, medical imaging systems, and surgical products. The company's core business units focus on diagnostics, breast health, gynecological surgery, and skeletal health. Since 1998, Hologic has worked with Grifol, which develops plasma protein therapies, to develop their blood-screening business.
The Procleix blood-screening business offers molecular assays and instruments to blood banks for screening donated blood, prior to transfusion, for viruses including HIV, hepatitis C and B, West Nile and Zika. Hologic handles research and development and manufacturing of the Procleix blood-screening products, while Grifols is responsible for selling the molecular assays and instruments.
As per the deal, which has been approved by boards of both the companies, Grifols will acquire Hologic's blood-screening manufacturing facility in Rancho Bernardo, California, as well as the development rights, licenses to patents and access to product manufacturers. Hologic will retain the engineering expertise associated with the blood-screening systems including Tigris and Panther, but will continue to work with Grifols to ensure that its customers have access to its blood-screening instruments over the long-term.
"Divesting our share of our blood screening business to Grifols will strengthen our efforts to build a sustainable growth company by accelerating top- and bottom-line growth rates, while significantly increasing financial flexibility," said Hologic’s chairman, president and CEO, Steve MacMillan. "We are immensely proud of the contributions we have made to global blood safety over nearly 20 years. But at the same time, we believe that the business and our blood screening employees are best positioned to succeed under a single owner, and that this sale to Grifols provides excellent value for Hologic and our shareholders."
Related Links:
Hologic
Grifols
Hologic develops, manufactures, and supplies diagnostic products, medical imaging systems, and surgical products. The company's core business units focus on diagnostics, breast health, gynecological surgery, and skeletal health. Since 1998, Hologic has worked with Grifol, which develops plasma protein therapies, to develop their blood-screening business.
The Procleix blood-screening business offers molecular assays and instruments to blood banks for screening donated blood, prior to transfusion, for viruses including HIV, hepatitis C and B, West Nile and Zika. Hologic handles research and development and manufacturing of the Procleix blood-screening products, while Grifols is responsible for selling the molecular assays and instruments.
As per the deal, which has been approved by boards of both the companies, Grifols will acquire Hologic's blood-screening manufacturing facility in Rancho Bernardo, California, as well as the development rights, licenses to patents and access to product manufacturers. Hologic will retain the engineering expertise associated with the blood-screening systems including Tigris and Panther, but will continue to work with Grifols to ensure that its customers have access to its blood-screening instruments over the long-term.
"Divesting our share of our blood screening business to Grifols will strengthen our efforts to build a sustainable growth company by accelerating top- and bottom-line growth rates, while significantly increasing financial flexibility," said Hologic’s chairman, president and CEO, Steve MacMillan. "We are immensely proud of the contributions we have made to global blood safety over nearly 20 years. But at the same time, we believe that the business and our blood screening employees are best positioned to succeed under a single owner, and that this sale to Grifols provides excellent value for Hologic and our shareholders."
Related Links:
Hologic
Grifols
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