Hologic announced that its long‑time Chairman, President and CEO Steve MacMillan will retire effective immediately upon the closing of the $18.3 billion go‑private transaction with Blackstone and TPG, which is expected to close on or about April 7, 2026. The deal will take the company private and trigger a leadership transition.
MacMillan, who joined Hologic in December 2013 and became chairman in 2015, has overseen a 65 % revenue increase, 184 % rise in non‑GAAP earnings per share and a 241 % jump in share price during his tenure. His departure follows the announcement of the acquisition, which offers shareholders a $76 cash per share plus a contingent value right of up to $3 per share tied to future breast‑health revenue targets.
The transaction values Hologic at up to $18.3 billion, including the contingent value right. The deal is structured as a cash purchase with a CVR that could add up to $3 per share if the company meets global breast‑health revenue goals in fiscal years 2026 and 2027. The acquisition is backed by minority investments from the Abu Dhabi Investment Authority and GIC.
Hologic’s most recent quarterly results, released in Q1 2026, showed revenue of $1,047.8 million, a 2.5 % year‑over‑year increase, and non‑GAAP diluted EPS of $1.04, up 1 % from the prior quarter. GAAP diluted EPS fell 9.2 % to $0.79, and both GAAP and non‑GAAP gross margins contracted by 80 and 150 basis points, respectively, largely due to a $15.3 million increase in tariff expenses. The company is not providing guidance for fiscal 2026 because the acquisition is pending.
Management emphasized that the go‑private transaction will allow Hologic to accelerate growth and invest in its core diagnostics, breast‑health and surgical businesses without the pressures of public markets. Amy Wendell, Hologic’s lead independent director, praised MacMillan’s leadership and noted that the board and investors owe a debt of gratitude for the turnaround he achieved. "Hologic's board of directors, and all the Company's stakeholders, owe a debt of gratitude to Steve, one of the most respected leaders in the medical technology industry. He forged a dramatic turnaround shortly after joining the Company, led us through years of consistent growth, drove our unprecedented response to the COVID pandemic, and is guiding us through a successful go‑private transaction." MacMillan himself said, "Leading Hologic has been the greatest honor and privilege of my career. I'm immensely grateful to the customers and patients who trusted us, the board and investors who supported us, and especially the employees who made all our accomplishments possible."
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