Home / Business and Economy / TPG, Blackstone Eye $4B Sale of Hologic Surgical Unit
TPG, Blackstone Eye $4B Sale of Hologic Surgical Unit
9 Jul
Summary
- TPG and Blackstone seek over $4bn for Hologic's surgical division.
- The sale aims to pay down debt and return cash from a major buyout.
- Several medical tech companies are exploring divestitures of business units.
Private equity groups TPG and Blackstone are reportedly seeking over $4 billion for Hologic's surgical division. The sale process is in its initial stages and aims to repay debt while returning cash from one of the previous year's largest leveraged buyouts. This division focuses on manufacturing surgical equipment utilized by gynecologists.
The potential divestiture is happening as the private equity industry faces increased pressure to return capital to investors. Stubbornly high interest rates are also dampening the appetite for new dealmaking among buyout firms. This situation mirrors other medical technology companies, such as CooperCompanies and Integer Holdings, which are also exploring sales or strategic reviews of their business units.
