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Hologic intends to use the proceeds of the offering and available cash to refinance its existing 4.375 percent senior unsecured notes due in 2025.
The company said that dried blood-spot sampling improves access to HIV diagnostic testing and care, particularly among HIV-infected people living in remote areas.
The increased forecast is the result of continuing COVID-19 testing volumes along with recovery in its breast and skeletal business, Hologic said.
News items for the in vitro diagnostics industry for the week of August 24, 2020.
On a conference call to discuss the company's third quarter financial results, executives said they increased molecular test production by 50 percent during the quarter.
Strong demand for the firm's COVID-19 molecular tests for the Panther and Panther Fusion platforms offset revenue declines in other areas of the business.
The tube, cap, and multitube consumables enable SARS-CoV-2 tests on its automated Panther and Panther Fusion sample-to-answer molecular diagnostic systems.
According to the registry's first dataset, more than 65 million tests have been manufactured and shipped across the US.
Cowen said that Hologic is on track to more than double its Panther system placements to about 500 this year, driven by SARS-CoV-2 test demand.
News items for the in vitro diagnostics industry for the week of June 8, 2020.