The acquisition of Gen-Probe Inc. by Hologic Inc. has taken a major step forward
. The companies announced June 19 that the Hart-Scott-Rodino 30-day waiting period passed without an FTC request for additional information. This satisfies a major condition of the acquisition and helps clear the way for Bedford, MA–based Hologic to complete the $3.7-billion purchase of Gen-Probe by 3Q12. Among the remaining customary closing conditions is a need for clearance by the German Federal Cartel Office, the companies said.
Meanwhile, both Hologic and San Diego–based Gen-Probe are proceeding with ongoing integration plans. The companies say they are identifying critical integration issues in order to target synergies, map product lines, and establish milestone dates.
Hologic and Gen-Probe announced the all-cash acquisition April 30, 2012, in which Hologic agreed to buy all outstanding shares of Gen-Probe for $82.75 per share. The merger creates a dominant player in the women’s healthcare field, according to some industry analysts. Hologic’s diagnostic, imaging, and even surgical business should become “more robust with what Gen-Probe brings to the table in terms of their STD testing. It really is a powerful combination,” says Jon Vance, managing director, MedDx Capital Advisors of La Jolla, CA.