Hologic (HOLX) Taken Private by Blackstone and TPG in $17B Deal

TLDR

• Hologic was taken private on April 7, 2026 by Blackstone and TPG in a deal worth up to $79 per share.
• Stockholders receive $76 in cash plus a contingent value right of up to $3 per share tied to Breast Health revenue goals.
• Minority investments came from ADIA and GIC.
• Stephen MacMillan retired after 12+ years as CEO; Joe Almeida was appointed as his replacement.
• HOLX common stock has ceased trading and will be delisted from Nasdaq.

Hologic officially left the public markets on April 7, 2026, completing its acquisition by funds managed by Blackstone and TPG in a deal valued at up to $79 per share.

Hologic, Inc., HOLX

The transaction, first announced on October 21, 2025, received stockholder approval on February 5, 2026. It also drew minority investment from a subsidiary of the Abu Dhabi Investment Authority and an affiliate of GIC.

Shareholders receive $76 per share in cash. On top of that, they get a non-tradable contingent value right worth up to $3 per share — paid in two installments of up to $1.50 each — depending on whether Hologic hits certain global revenue targets in its Breast Health business in fiscal years 2026 and 2027.

The CVR structure means the full $79 per share is only achievable if those revenue milestones are met. It’s a detail worth watching for anyone tracking the deal’s final value.

Heading into the deal’s close, Hologic reported $4.13 billion in revenue over the last twelve months, a gross profit margin of 60%, and a current ratio above 4. Its market cap sat at $16.97 billion.

The company’s most recent quarterly results came in below expectations. Revenue of $1.05 billion missed the $1.07 billion consensus, and adjusted EPS of $1.04 fell short of the $1.09 forecast.

Leadership Overhaul

Longtime CEO Stephen MacMillan retired at closing, ending more than 12 years at the helm. Joe Almeida steps in as Chief Executive Officer, effective immediately, and has also been named sole director.

Almeida is a medtech veteran. He previously served as Chairman, President and CEO of Baxter International from 2016 to early 2025, and before that held the same role at Covidien until Medtronic acquired it in 2015.

The leadership change signals a clear direction from the new owners — Blackstone, which manages $1.3 trillion in assets, and TPG, which manages $303 billion — toward growth under private equity backing.

Hologic’s capital structure was also overhauled as part of the deal. Stock options and equity awards were treated with a mix of cash and CVR-based payouts, and high-strike options were cancelled with no payout.

Off the Exchange

HOLX common stock has officially ceased trading. The company will be delisted from Nasdaq, making it a wholly owned subsidiary of the Blackstone-TPG consortium.

The stock closed at $76.01 on its final day of trading — essentially at its 52-week high of $76.07, a reflection of how closely the market priced in the deal’s completion.

Six analysts had revised earnings estimates downward for upcoming periods ahead of the close. The most recent analyst rating on HOLX was a Buy with an $83 price target.

InvestingPro had assigned Hologic a “GREAT” financial health score prior to the deal closing.

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