- Strengthens Efforts to Build a Sustainable Growth Company -
- Accelerates Top- and Bottom-Line Growth Rates, Increases Financial Flexibility -
Hologic, Inc. has completed the divestiture of its blood screening business to long-time commercial partner, Grifols (MCE: GRF, MCE: GRF.P and NASDAQ: GRFS) for a purchase price of $1.85 billion in cash, the Company announced.
"Completing the divestiture of our blood screening business will strengthen our efforts to build a sustainable growth company by accelerating top- and bottom-line growth rates, while significantly increasing financial flexibility," said Steve MacMillan, the Company's Chairman, President and Chief Executive Officer. "We are immensely proud of the contributions we have made to global blood safety over nearly 20 years, and wish our former employees and partner much continued success in the field."
Hologic intends to discuss the financial effects of the transaction tomorrow, when it releases its quarterly financial results and provides updated financial guidance.
Source & Image Credit: Hologic