Suros Surgical Systems and Hologic, Inc. Agree to Merge

Indianapolis-based medical device maker Suros Surgical Systems, Inc. announced  that it has entered into an agreement to merge with a wholly-owned subsidiary of Hologic. Hologic, Inc. of Bedford, Mass., is a leading developer, manufacturer and supplier of premium diagnostic and medical imaging systems dedicated to serving the healthcare needs of women, and a leading developer of innovative imaging technology for digital radiography and breast imaging. The transaction, subject to final approval by Suros’
shareholders, regulatory clearances and other customary closing conditions, is expected to close by the end of the second quarter of 2006. At the closing, Suros will become a wholly-owned subsidiary of Hologic. The Suros headquarters and employees will remain in Indianapolis.
    “This is an exciting opportunity for Suros as it should improve our
ability to reach a broader customer base more quickly,” said Jim Pearson, president and CEO of Suros. “The three-year partnership we have had with Hologic has laid solid groundwork for aligning our two companies. We believe our customers and employees will see significant benefits resulting from the combined efforts of two dynamic organizations.
    “Partnering with Hologic aligns two rapidly growing companies who share the same goals in advancing women’s healthcare,” Pearson added. “The partnership will allow us to retain our Suros identity in the market and continue with our expansion strategy.”
    Suros has been a shining star in Indiana’s life sciences initiative,
growing its employee base, product line and revenue base consistently since launching its first product in March 2002. The company is a market leader in the breast biopsy field and this year launched internationally with its breast biopsy systems.
    James Baumgardt, Chairman of the Board of Directors of Suros, stated, “The partnership with Hologic offers unique synergies for both companies as we are able to align leading technology and product development in the combined areas of imaging and diagnosis in women’s health. The merger epitomizes the success of the life sciences sector in Indiana. Suros has created market opportunities and jobs in the state, and at the same time, provided significant value to our shareholders.”