Medical technology company Hologic has completed the acquisition of Germany-based Somatex Medical Technologies for around $64m.
Somatex, which was earlier owned by E-Med Solutions, focuses on the development of single-use medical devices to facilitate diagnoses and therapies.
It is a major provider of biopsy site markers and localisation technologies. The acquisition will allow Hologic to deliver a range of advanced solutions across the continuum of breast health care.
The deal is also expected to enable Hologic to boost its sales presence in Europe by expanding its direct channel in Germany, as well as its network of regional and international distributor partners.
Somatex has expertise in the development and manufacturing of minimally invasive devices in the areas of tumour diagnostics, biopsy and interventional specialties.
Somatex’s portfolio consists of Tumark family of tissue markers
The company’s product portfolio consists of Tumark family of tissue markers, which have been distributed by Hologic in the US.
Somatex is anticipated to generate around $13m of revenue in calendar 2020, including sales of Tumark markers to Hologic.
Hologic stated that Somatex’s differentiated products will help the company to strengthen and further expand its breast marker portfolio.
Hologic breast and skeletal health solutions division president Jennifer Meade said: “The acquisition of Somatex allows us to expand our biopsy portfolio by providing a suite of market-leading solutions that not only address our customers’ needs, but also improve the biopsy experience for their patients.
“We’ve had a strong partnership with Somatex for several years, which along with our shared focus on innovation, will allow us to quickly integrate and begin building a pipeline that will drive profitable growth and recurring revenue for our breast health business globally.”
In August 2020, Hologic agreed to acquire women’s health company Acessa Health for around $80m in cash.
Acessa Health focuses on the advancement of minimally invasive, uterine-sparing solutions for women with symptomatic fibroids.
