Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Hologic Selling Lifecodes Business to Immucor

Medical device maker Hologic (NASDAQ: HOLX  ) announced in a press release late last week that it agreed with diagnostics  maker Immucor to sell its Lifecodes business.

Lifecodes, which handles transplant diagnostics, will net Hologic $85 million  in cash at closing, and another $10 million for certain financial milestones to be hit in 2013. Hologic CEO and President Rob Cascella announced that the company will use the money  to reduce its debt load.

The agreement is expected to close in the second quarter. According to a similar press release  from Immucor, Lifecodes operates in a $400 million market, and will strengthen the company's position in its industry.

Cascella explained  the sale in his company's statement, saying:

Our sale of LIFECODES will enable Hologic to focus our resources on diagnostics opportunities that are more in-line with our fundamental growth strategies."

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2183344, ~/Articles/ArticleHandler.aspx, 3/31/2015 11:16:20 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...