News | June 06, 2011

Hologic Acquires TCT International Co. Ltd.

June 6, 2011 - Hologic, Inc. announced it has acquired TCT International, a distributor of medical products in China, including Hologic's ThinPrep Pap Test, related instruments and other diagnostic and surgical products.

TCT is a privately-held distribution company headquartered in Beijing, China. TCT employs over 500 people and possesses a large, established nationwide sales organization and customer support infrastructure. TCT management has extensive experience in developing markets for new technologies and has made ThinPrep a leading brand in China over the last decade. The TCT business will be integrated within Hologic's international operations.

The purchase price for the transaction is $135 million in cash (of which $35 million is deferred for one year), plus a two-year contingent earn out. The earn out will be payable in cash installments equal to a multiple of the incremental revenue growth in TCT's business. The total purchase price is subject to adjustment and a maximum threshold.

In Fiscal 2011, Hologic expects this transaction to generate incremental revenues of approximately $10 million and to be accretive to earnings, absent the amortization of intangibles related to the transaction and other acquisition-related charges.

For more information: www.hologic.com

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