Fort Worth- and San Francisco-based investment firm TPG and New York’s Blackstone have completed their acquisition of medical-technology company Hologic Inc. (Nasdaq: HOLX) in a deal valued at up to $18.3 billion. The deal also includes minority investments from a wholly owned subsidiary of the Abu Dhabi Investment Authority and an affiliate of GIC, the firms noted.

Dallas Innovates first wrote about the acquisition last October. The deal was approved by Hologic shareholders on February 5.

In connection with the deal’s close, Hologic—which is headquartered in Marlborough, Massachusetts—today announced the appointment of José Almeida as its CEO, effective immediately. Almeida succeeds Stephen MacMillan, who recently retired from his role as Hologic’s chairman, president, and CEO after more than 12 years leading the company.

Almeida called Hologic “an incredible company with a storied history of innovation and an unparalleled reputation as a leader in women’s health.”

“I’m thrilled to be joining at such a pivotal moment,” he added in a statement. “With the backing of Blackstone and TPG, we’re poised to take the organization to new heights, with a renewed sense of purpose and greater resources to invest in innovation and initiatives that will advance the mission of enabling healthier lives around the world.”

Almeida was most recently chairman, president and CEO of Baxter International, where he served from 2016 to early 2025. Prior to Baxter, the Brazil native served as chairman, president and CEO of Covidien plc until its acquisition by Medtronic in 2015. Before joining Covidien, he held senior leadership roles at Tyco Healthcare and previously served in executive positions at Wilson Greatbatch Technologies, Acufex Microsurgical, and Codman & Shurtleff, a division of Johnson & Johnson. 

Hologic’s 3Dimensions mammography system [Photo: Hologic]

Improving health outcomes for women ‘worldwide’

Alex Albert, a partner at TPG and co-head of healthcare for TPG Capital, noted that Hologic’s mission is to advance detection and care to improve health outcomes for women worldwide.

“Investing behind healthcare innovation has been a core thematic focus for TPG over decades, and we have long admired Hologic as an industry leader,” Albert added. “Under Joe’s experienced and proven leadership, we are proud to partner with Hologic and Blackstone to support clinical excellence and deliver meaningful impact for patients.”

Details of the deal

With the completion of the acquisition, Hologic stockholders will receive $76 per share in cash plus a non-tradable contingent value right to receive up to $3 per share in two payments of up to $1.50 each, for total consideration of up to $79 per share in cash. The non-tradable CVR would be paid, in whole or in part, following achievement of certain global revenue goals for Hologic’s Breast Health business in fiscal years 2026 and 2027.

As a result of the deal’s completion, Hologic’s common stock has ceased trading and will be delisted from Nasdaq.

Hologic maintains a field presence in North Texas to support its medical technology divisions and a hub in Austin. Its innovation footprint also extends locally: a Frisco-based inventor was behind a patented surgical implant assigned to Hologic in late 2023.

Quincy Preston contributed to this report.

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