Hologic says digital technology will fuel future growth

By Jennifer Lanning Drey

Eugene, Ore., Sept. 14 - Hologic, Inc.'s largest opportunity for future growth is in sales of its digital mammography technology, Glenn Muir, chief financial officer of the company, said Thursday at the ThinkEquity growth conference.

Hologic currently markets a digital mammography machine called the Selenia and is developing a next-generation 3-D tomosynthesis digital mammography product. The company has also sold Lorad, an analog mammography system, for about five years.

"We're on a trend of this adoption of digital, which is really fueling our growth in the marketplace," Muir said.

Hologic projects it will sell 165 Selenia machines in the fourth quarter and 700 Selenias in 2007. Since the machine's introduction in March 2003, Hologic has sold 801 Selenia machines.

The technology currently accounts for 50% of Hologic's mammography revenues, according to Muir.

However, he said there is still a large market opportunity for the company, as only 12% of mammography facilities in the United States have digital technology.

Competition between hospitals and the aging population are likely to fuel growth, he said.

"We are still early on in the whole adoption curve for this transition from analog to digital," Muir said.

Muir also said Hologic is providing customers who buy a Selenia with an upgrade path to the 3-D technology when it becomes available.

Located in Bedford, Mass., Hologic develops, manufactures and supplies diagnostic and medical imaging systems.

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