Mobidiag, a Finnish-French developer of innovative molecular diagnostic tests and instrumentation, has signed a definitive agreement to be acquired by Hologic, a women's health specialist, for approximately €668 million.
This includes a cash payment of approximately €600 million for Mobidiag’s equity, and net debt of approximately €68 million.
Mobidiag develops and markets PCR (polymerase chain reaction)-based tests for acute care conditions such as gastrointestinal and respiratory infections, antimicrobial resistance management, and healthcare associated infections. The Amplidiag and Novodiag platforms are automated instruments that deliver rapid turnaround times ranging from 50 minutes to two hours. The Novodiag platform combines real-time PCR and microarray capabilities to provide multiplexing, allowing clinicians to identify which organism is responsible for an infection.
Tuomas Tenkanen, Mobidiag’s chief executive officer, said: “We are very excited to join Hologic’s diagnostic business. Under the Hologic umbrella our business will continue to be committed to its existing customer base in Europe, including our home markets of Finland, France, Sweden and UK, however, Hologic’s commercial expertise, scale and investment strength, will accelerate the broader market adoption of our products. In addition, Hologic’s established U.S. regulatory and market development capabilities will rapidly facilitate the introduction of our products and maximise their potential in the United States.”
Jan Verstreken, group president, international at Hologic, added: “Acquiring Mobidiag will further strengthen our international diagnostics businesses by providing a European R&D and manufacturing centre of excellence, enabling us to expand into the large, fast-growing acute care adjacency with a near-patient testing solution that offers ease of use, multiplex capability and rapid turnaround time. We believe that Mobidiag has a highly complementary product offering and has developed a differentiated platform that addresses many of the historical challenges of multiplexed point-of-care molecular testing.”
The acquisition is expected to close early in the fourth quarter of 2021, subject to receipt of certain required regulatory approvals and other customary closing conditions, including FDI approval in Finland and France.
