Hologic to acquire R2 Technology for $220 million in stock

By Lisa Kerner

Erie, Pa., April 24 - Hologic, Inc. said it has agreed to acquire privately held medical imaging company R2 Technology Inc. for $220 million payable in shares of Hologic common stock.

The price per share will be equal to the 10-trading day average of the closing price per share of Hologic common stock for the period ending two trading days prior to the closing date, according to a news release.

The transaction is expected to close in two to three months following customary closing conditions, stockholder approval and expiration or termination of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act.

"This acquisition represents another significant step for Hologic in our strategy to provide added business value to our customers," Hologic chairman and chief executive officers Jack Cumming said in the release.

"R2 has over 2,500 mammography CAD installations worldwide, including over 1,000 digital CAD systems. We are confident the integration of R2's CAD systems with Hologic's mammography product portfolio will build a solid platform for future long-term growth."

The mammography CAD industry was about $100 million in 2005, officials said.

Located in Bedford, Mass., Hologic develops and manufactures diagnostic and medical imaging systems for women's health care.

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