Blackstone and TPG have rekindled talks to acquire women’s health diagnostics company Hologic, in what could rank among the largest healthcare take-private transactions this year, according to a source close to the matter. The negotiations have been on and off for over a year, and while no deal is imminent, falling share prices and CEO Steve MacMillan’s $40+ million change-of-control package are seen as factors driving renewed momentum.
In May, the two private equity firms reportedly offered around $16 billion including debt, or $70–72 per share, though Hologic rejected that proposal. Shares have since declined to about $66, valuing the company at $14.7 billion.
Hologic, best known for breast and cervical cancer screening as well as infectious disease testing, has shown operational improvement. The firm recently beat Q2 forecasts, raised its full-year guidance, and reaffirmed expectations for steady revenue growth in 2026. For now, the parties remain in due diligence, and a deal is not expected within the next month.
Source: Reuters
