Hologic Sets M & amp;A Sights on SuperSonic Imagine in $85M Deal

In an attempt to boost its imaging offerings for breast health, Hologic has made a binding offer to acquire SuperSonic Imagine for $85 million. Aix-En-Provence, France-based Sonic Imagine develops cart-based ultrasound products. Hologic also would make available funds to repay SuperSonic Imagine’s net debt in an amount not to exceed $43 million, equating to a maximum enterprise value of $85 million. SuperSonic Imagine’s main shareholders, who together hold 10,841,409 shares or about 46% of the outstanding share capital of the company, have agreed to sell their shares to Hologic at the price of €1.50 per share. If this acquisition is completed, Hologic will file a cash tender offer, which would not be subject to any condition precedent, for all the remaining shares of SuperSonic Imagine at the same price per share, which represents a premium of 42.9% over the closing price on June 19, 2019 and a premium of 45.7% over the volume-weighted average price over 60 trading days. “This contemplated acquisition of SuperSonic Imagine by Hologic meets all our strategic objectives and would allow us to develop the Ultrasound activity within a group that shares our values, said Michèle Lesieur, CEO, of SuperSonic Imagine. This isn’t the first time Hologic has made a move bolster its breast health offerings through an acquisition. In August of last year, MD+DI reported Hologic spending $85 m...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news

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