July 7, 2010 – Diagnostic and medical imaging supplier Hologic Inc. announced yesterday that it has agreed to acquire Sentinelle Medical Inc., a provider of magnetic resonance imaging (MRI) breast coils, tables and visualization software.
The purchase price for the transaction will be $85 million, plus a two-year contingent earn out. This transaction is expected to close during the third calendar quarter and is subject to customary closing conditions, including Sentinelle Medical stockholder approval and Canadian judicial approval.
Sentinelle Medical, a privately held medical imaging company headquartered in Toronto, is dedicated to developing advanced breast imaging technologies using high-field strength MRI that will help in the earlier detection and better treatment of breast cancer. Sentinelle Medical’s revenue in calendar 2009 was approximately $15 million.