Marlborough, Massachusetts, April 6, 2026, 5:06 PM EDT
Hologic announced Monday that Chief Executive Steve MacMillan plans to step down once the women’s health med-tech firm’s sale to Blackstone and TPG wraps up. The company reported it has cleared all regulatory hurdles and now expects the deal to finish on or around April 7.
The disclosure signals the buyout is nearing the finish line, closing out MacMillan’s tenure ahead of Hologic’s exit from the public markets. Shareholders gave the nod to the merger back in February. When the deal was first announced in October, Reuters put the value at up to $18.3 billion with debt—making it the biggest medical-device transaction since Boston Scientific scooped up Guidant in 2006.
Nasdaq has flagged April 6 as the expected last day Hologic shares will trade, with a halt planned right after the after-hours session wraps up at about 7:50 p.m. EDT. Should the merger go through, the exchange will leave the stock halted on April 7 and will pull the shares entirely effective April 8.
The timing here is critical for investors: Blackstone and TPG are putting up $76 per share in cash, plus a non-tradable contingent value right, or CVR. This CVR only pays out if specific milestones are reached. According to Hologic, that could mean up to an extra $3 a share if the Breast Health unit hits its revenue targets for fiscal years 2026 and 2027.
Late Monday, Hologic was changing hands near $76.01, right in line with the cash portion of the bid—before even factoring in the CVR’s potential upside. The price action points to confidence the transaction will close as planned.
MacMillan, 62, has led Hologic as president and CEO since December 2013 and took over as chairman in 2015. The company intends to name a new chief executive once the deal wraps up.
“Leading Hologic has been the greatest honor and privilege of my career,” MacMillan said. Board lead independent director Amy Wendell credited him with “forged a dramatic turnaround,” citing his leadership through the company’s growth, its COVID response, and the sale process. Hologic Investor Relations
The buyers step in as the business keeps expanding—though not all segments are firing in sync. Hologic reported $1.05 billion in quarterly revenue, a 2.5% increase. Surgical sales jumped 8.7%, but molecular diagnostics dropped 3.5%, reflecting weaker demand for COVID tests and certain older STI assays.
Hologic flagged Roche Diagnostics and Abbott Laboratories as key rivals in molecular diagnostics in its most recent annual report. When Blackstone and TPG announced their bid, they framed it as a push to back Hologic’s product pipeline and expansion. BTIG’s Ryan Zimmerman called the proposal “fair for all parties,” adding it generally boosted sentiment for the med-tech space by expanding the roster of potential buyers. SEC
The risk window hasn’t closed yet. Hologic reiterated that the deal’s completion hinges on standard closing conditions, and in its filings, flagged that CVR holders might see a reduced payout if Breast Health targets fall short. The company also noted that the change in ownership could put pressure on employee retention and key business ties. Following the merger, Hologic’s shares will come off Nasdaq, but headquarters stay in Marlborough, with operations continuing under the Hologic brand.
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