Hologic To Buy BioLucent For $70 Million, 2 Year Earn Out

Hologic Inc. agreed to acquire BioLucent Inc., an Aliso Viejo, Calif., medical device company, for $70 million and a two-year earn-out. The purchase price will consist of $5 million in cash and $65 million in cash, shares or a combination of both. The earn-out will be payable in two annual cash installments of up to $15 million. Concurrently with the acquisition, BioLucent will spin off its brachytherapy business into an independent entity. Hologic, Bedford, Mass., is a diagnostic and medical imaging company.

SOURCE: MARKETWATCH.COM