News/Resources: PRESS RELEASES
Brown Rudnick Advises Hologic, Inc in $3.8 Billion Acquisition Of Gen-Probe
August 1, 2012
November 30, -0001
One of the Largest and Most Sophisticated Life Science
Acquisitions and Financings This Year
(BOSTON) August 1, 2012 - Brown Rudnick LLP advised Hologic Inc. (NASDAQ: HOLX) in connection with its acquisition today of Gen-Probe Inc. for a purchase price of approximately $3.8 billion.
Financing for the purchase price included senior secured financing of $2.8 billion, including a $1.0 billion tranche A term loan, a $1.5 billion tranche B term loan and a $300 million revolving credit facility. Hologic also issued $1.0 billion of 6.25% senior notes due 2020.
Hologic Inc., based in Bedford, Mass., is a leading developer, manufacturer and supplier of premium diagnostic products, medical imaging systems, and surgical products. It’s acquisition of Gen-Probe, a San Diego-based provider of molecular diagnostic products and services, is one of a handful of multi-billion dollar transactions this year in the life sciences industry.
“This was a very sophisticated transaction and will be one of the major M&A transactions and financings in the U.S. this year,” says Brown Rudnick corporate partner Philip J. Flink, who led the legal team advising on the acquisition and financing. “With all the uncertainty in the credit market, we were able to help Hologic negotiate and put in place a complex financing package. This deal required a multidisciplinary effort that included attorneys from across the firm’s many practice areas.”
With this acquisition, Hologic says it is now firmly established as a premium provider of diagnostic solutions. It is looking to capitalize on the fast growing molecular diagnostics market with its new product pipeline.
About Brown Rudnick LLP
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