Thursday, June 2, 2011

Hologic buys Chinese distributor TCT International for $135M

By Michelle Lang

Hologic Inc., a Bedford medical imaging and diagnostics product developer focused on women’s health, is paying $135 million cash to acquire TCT International Co. Ltd., a medical products distributor in Beijing, China.

TCT already had an established relationship with Hologic as the sole distributor in China of the company’s ThinPrep Pap Test, Rapid fetal Fibronectin (fFN) test and the NovaSure endometrial ablation device. As a newly acquired company, TCT’s business will roll into Hologic’s international operations, a news release today indicated.

The $135 million buyout fee includes a $35 million payment deferred for one year, as well as a two-year contingent earn out.

“The acquisition of TCT is consistent with our strategy to expand our women’s healthcare franchise globally,” said Hologic president and CEO Rob Cascella in the news release.

In January, Hologic acquired Interlace Medical Inc., a Framingham medical device maker, for $125 million. Interlace makes MyoSure, a hysteroscopic tissue removal system intended for the quick removal of submucosal fibroids and polyps in one step.

Prior to that, Hologic bought Sentinelle Medical Inc., a Toronto provider of Magnetic Resonance Imaging breast coils, tables and visualization software, for $85 million in July 2010.