Hologic Buys Molecular Dx Firm Diagenode for $159M

Hologic Inc. has acquired Diagenode, a privately held, European developer and manufacturer of molecular diagnostic assays and epigenetics products, for approximately $159.
 
“Acquiring Diagenode further strengthens our molecular diagnostics business by expanding our international capabilities, improving our regional time-to-market, and allowing us to offer a broader, more differentiated test menu,” said Jan Verstreken, Hologic’s group president, international in a press release. “Diagenode has been a great partner since 2016, helping us develop and manufacture PCR-based assays for Panther Fusion. Now we look forward to accelerating and broadening those efforts to benefit our customers and patients.”
 
Diagenode offers over 30 CE-marked real-time PCR (polymerase chain reaction) tests to spot bacteria, parasites, and viruses involved in sexually transmitted infections, respiratory diseases, meningitis, and gastroenteritis. Diagenode previously worked with Hologic to develop group B Streptococcus and Bordetella Panther Fusion assays. Diagenode also offers epigenetics with a robust portfolio of devices, kits, reagents, antibodies and services to aid in DNA and RNA analysis.
 
“We are very pleased that the Diagenode team will become part of Hologic’s diagnostic business,” said Didier Allaer, Diagenode’s founder and CEO. “Our businesses are highly complementary, and we are excited that Hologic’s commercial resources and leadership in molecular automation will enable us to offer our assay menu more broadly. Being part of Hologic will help scale our products to their full potential.”
 
“We are excited to put our strong cash flow to work to acquire Diagenode and further strengthen our diagnostics business, which has had tremendous momentum in the United States and internationally,” said Steve MacMillan, Hologic’s chairman, president, and CEO. “The acquisition is consistent with our tuck-in M&A strategy, leverages our automation capabilities, and provides attractive growth potential. And combined with our recent purchase of Biotheranostics, it enables us to continue strengthening our base diagnostics business to accelerate growth post-COVID.”
 
Diagenode generated over $30 million of revenue in the last 12 months.