Medical technology firm Hologic has entered into exclusive negotiations to acquire French ultrasound products provider SuperSonic Imagine.
As per terms of the binding offer, Hologic has agreed to pay €1.50 per share to purchase all outstanding shares of SuperSonic Imagine.
The price corresponds to around $39m (£30.7m) for all outstanding shares or about $42m (£33m) with assumption of all outstanding warrants and options with an exercise price lower than €1.50 (£1.33) are exercised.
Hologic has also agreed to provide funds to repay net debt of SuperSonic Imagine’s in a sum not to exceed $43m(£33.8m), equating to a maximum enterprise value of $85m (£66.9m).Hologic will file a cash tender offer, if this acquisition is completed.
Hologic breast and skeletal health solutions president Pete Valenti said: “Like our previous acquisitions of Faxitron and Focal, acquiring SuperSonic Imagine will strengthen our strategy to provide comprehensive screening, interventional and surgical solutions across the continuum of breast health care.”
Based in Aix-en-Provence, SuperSonic Imagine is specialised in providing ultrasound medical imaging solutions to its customers.
The company produces flagship Aixplorer series of products, which feature the exclusive UltraFast technology, which provided new imaging modes to set the standards of care for non-invasive characterisation of breast, liver and prostate diseases
ShearWave Elastography (SWE), which is the first developed UltraFast mode, allows doctors to view and instantly analyse tissue stiffness, a significant factor in the diagnosis of multiple conditions.
Aixplorer MACH 30 ultrasound platform is the latest addition to the Aixplorer range, and it features next generation UltraFast imaging that optimises its imaging modes such as ShearWave PLUS, Doppler UltraFast, Angio PL.U.S. and TriVu.
The products of SuperSonic Imagine are said to compliment Viera wireless and handheld ultrasound scanner, which Hologic is commercialising via development and distribution agreement with Clarius Mobile Health.
Hologic chairman, president and CEO Steve MacMillan said: “SuperSonic Imagine provides best-in-class ultrasound technology that is strategically important to the long-term growth of our Breast Health business.
“The transaction is consistent with our capital deployment goals and will be accretive to our revenue growth rate.”