Blackstone, TPG Near $17B Hologic Buyout in Major Healthcare Deal

Private-equity giants Blackstone and TPG are closing in on a monumental acquisition of Hologic, the prominent women's health diagnostics and medical imaging company, in a deal that could exceed $17 billion including debt. According to sources familiar with the negotiations, the firms are finalizing terms that would value Hologic shares at more than $75 each, representing a significant premium to recent trading levels that reflects strong investor appetite for healthcare assets with reliable revenue streams. The potential transaction, which could be announced within days, would rank among the largest leveraged buyouts in the healthcare sector in recent years, signaling private equity's renewed confidence in medical technology and diagnostics markets after a period of subdued dealmaking.

The acquisition would mark a transformative moment for Marlborough, Massachusetts-based Hologic, which has spent the past decade evolving from a cyclical imaging business into a diversified provider of diagnostic products and laboratory instruments, including widely used cancer screening tests. Market reaction has been strongly positive, with Hologic shares rising approximately 2% during Friday trading and climbing an additional 6% in after-hours trading following initial reports of the potential deal. This rally was preceded by earlier movement sparked by 9fin's report of a $9 billion financing package being assembled by Blackstone and TPG to fund the acquisition, demonstrating the substantial financial commitment required for this landmark transaction.

For both Blackstone and TPG, the Hologic acquisition represents a strategic expansion of their healthcare portfolios during a particularly active year. Blackstone has been intensifying its push into healthcare platforms, while TPG has been actively seeking opportunities in diagnostics and biotech services. Hologic presents an appealing combination of stable cash generation and technological innovation in the women's health sector, an area considered resilient to broader economic fluctuations. While a final agreement has not yet been reached and both sides continue negotiating valuation, financing, and governance terms, the advanced discussions clearly indicate that private equity's appetite for large-scale healthcare deals is gathering significant momentum once again.