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Hologic Acquires European MDx Firm Diagenode for Approximately $159M

NEW YORK ─ Hologic on Monday announced it has acquired Diagenode, a privately held, European developer and manufacturer of molecular diagnostic assays and epigenetics products, for approximately $159 million.

Liege, Belgium-based Diagenode markets more than 30 real-time PCR tests that are CE-marked for the detection of bacteria, parasites, and viruses involved in sexually transmitted infections, respiratory diseases, meningitis, and gastroenteritis.

Marlborough, Massachusetts-based Hologic said Diagenode previously collaborated with it to develop Panther Fusion assays for group B Streptococcus and Bordetella. The European firm also has an epigenetics portfolio that consists of devices, kits, reagents, antibodies, and services to aid in the analysis of DNA and RNA, Hologic said.

"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," Jan Verstreken, Hologic’s group president, international, said in a statement.

Diagenode generated more than $30 million of revenue in the past 12 months, according to Hologic, which added that the acquisition is expected to be approximately break-even to its non-GAAP earnings per share through fiscal 2022 and accretive thereafter.

"The acquisition is consistent with our tuck-in M&A strategy, leverages our automation capabilities, and provides attractive growth potential," Steve MacMillan, Hologic’s chairman, president, and CEO, said in a statement. "And combined with our recent purchase of Biotheranostics, it enables us to continue strengthening our base diagnostics business to accelerate growth post-COVID.”

Last week, Hologic said it had completed its previously announced acquisition of molecular oncology test company Biotheranostics for approximately $230 million.