By Sabrina Valle
(Reuters) - Private equity firms Blackstone and TPG revived their interest in acquiring medical diagnostics company Hologic in what could be one of the largest healthcare take-private deals this year, a person close to the transaction said on Wednesday.
Talks between the parties have been intermittent over the past year and could still fall apart, the person said. But compensation terms for Hologic's Chief Executive Steve MacMillan and recent stock depreciation are seen by investors
as incentives for a sale.
The CEO could receive more than $40 million in stock and cash in the event of a change of control, according to compensation terms outlined in a company filing earlier this year.
The parties are currently conducting due diligence, and a deal is not expected within the next month, the person said.
Spokespeople for Blackstone and TPG declined to comment. Hologic did not immediately respond to requests for comment.
Hologic specializes in women’s health diagnostics, including breast and cervical cancer screening and infectious disease testing.
The Financial Times previously reported in May that Blackstone and TPG had submitted a nonbinding proposal of about $16 billion including debt, or between $70-72 per share, which Hologic rejected.
The renewed engagement comes as Hologic shares have lost ground in recent months. Hologic shares were trading at $66 late Wednesday afternoon, giving the Marlborough, Massachusetts-based company a market capitalization of roughly $14.7 billion.
Operationally, Hologic has shown signs of recovery, particularly in its molecular diagnostics and interventional breast segments.
The company beat market expectations in the second quarter, management recently raised its full-year earnings guidance and reaffirmed expectations for mid-single-digit revenue growth in fiscal 2026, supported by new product launches and easing tariff pressures.
(Reporting by Sabrina Valle in New York and Puyaan Singh in Bengaluru; Editing by Mohammed Safi Shamsi and Kim Coghill)
