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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.

Other leaders of the Brown Rudnick effort included partners Steven B. Levine, Andreas P. Andromalos and James L. Hauser. 

About Brown Rudnick LLP

Brown Rudnick is an AmLaw 200 firm with offices in the United States and Europe. With relentless focus on the client’s objectives, the Firm represents clients from around the world in high stakes litigation and business transactions.  Our clients include public and private corporations, hedge funds, venture capital funds, private equity funds, multinational Fortune 100 businesses and start-up enterprises.  We also represent investors, debtors and official and ad hoc creditors’ committees in today’s largest corporate restructurings, both domestically and abroad.  Brown Rudnick is among the vanguard of law firms advising clients in times of unprecedented opportunity, capital convergence and cross-border uncertainty.  The Brown Rudnick Center for the Public Interest is an innovative model combining the Firm’s pro bono, charitable giving and community volunteer efforts.  For more information, please visit www.brownrudnick.com. 

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