Hologic to Sell LIFECODES to Immucor for $85M in Cash, $10M Contingent Payment
Hologic, Inc. (Hologic or the Company) (NASDAQ: HOLX), a leading developer, manufacturer and supplier of premium diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women, today announced that it has entered into a definitive agreement to sell its LIFECODES business unit to Immucor, Inc.
Under the terms of the agreement, Hologic will receive $85 million in cash at closing, subject to certain adjustments, and have the opportunity to earn a contingent payment of $10 million based on achievement of certain financial targets for the calendar year 2013.
The transaction is subject to customary closing conditions, including expiration of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The transaction is expected to close during the second fiscal quarter.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.