Hologic Acquires TCT International Co for $135M

Hologic, Inc.

today announced it has acquired TCT International Co. Ltd., a distributor of medical products in China, including Hologic's ThinPrep Pap Test, related instruments and other diagnostic and surgical products. The purchase price for the transaction is $135 million in cash (of which $35 million is deferred for one year), plus a two-year contingent earn out. The earn out will be payable in cash installments equal to a multiple of the incremental revenue growth in TCT's business. The total purchase price is subject to adjustment and a maximum threshold.