Marlborough Co. Buying Medical Products Company For $1.6 Billion

MARLBOROUGH, MA — A women's health company based in Marlborough is buying a medical aesthetics systems and technologies company based in Westford.

Hologic and Cynosure announced on Tuesday that they have signed a definitive agreement for Hologic to acquire all outstanding Cynosure shares for $66 per share in cash, which corresponds to an equity value of approximately $1.65 billion and an enterprise value of $1.44 billion net of cash, said the announcement.

The transaction was approved unanimously by the boards of directors of both companies, and would extend Hologic's scientific and commercial capabilities into one of the fastest-growing segments in medical technology, while expanding Cynosure's customer reach and addressable market, according to the release.

"Acquiring Cynosure will accelerate our transformation into a higher-growth company by leveraging our core women's health expertise and OB/GYN channel leadership into an adjacent, cash-pay segment that is expanding at a low double-digit rate," said Steve MacMillan, Hologic's chairman, president and chief executive officer (CEO), in a statement. "We had identified medical aesthetics as an attractive and complementary growth opportunity through our strategic planning process, and are pleased to have agreed to acquire Cynosure, the best-in-class company in the space. Together, we can strengthen our shared focus on innovation, market-leading products with demonstrated clinical benefits, and strong customer relationships."