Endomag develops wireless breast surgery localisation and lymphatic tracing solutions. Credit: ORION PRODUCTION / Shutterstock.

Hologic has closed the acquisition of UK-based breast cancer surgery technologies developer Endomagnetics (Endomag) for approximately $310m.

The deal between the parties was signed in April 2024.

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Endomag is engaged in developing technologies for breast surgery, including the Magseed marker, Magtrace lymphatic tracing injectable, and the Sentimag platform.

Hologic breast and skeletal health solutions president Erik Anderson said: “We are thrilled to complete the acquisition of Endomag and are looking forward to working with our new colleagues to increase access to their innovative technologies, which complement and diversify our expanding interventional breast health portfolio.

“With our shared commitment to advancing women’s health globally, we are excited to improve outcomes for patients and, together with our customers, redefine the standard of care for breast cancer intervention.”

With the acquisition, Hologic added Endomag’s wireless breast surgery localisation and lymphatic tracing solutions to its breast surgery portfolio.

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This provides breast surgeons and radiologists with an expanded range of options and improve user experience.

Endomag CEO Eric Mayes said: “We are so proud of the company we built and the practice-changing breast surgery technologies that we developed following years of relentless research, innovation and deep engagement with clinicians.

“As we embark on this new journey with Hologic, I am filled with optimism about the opportunities for our team, our forthcoming innovations and our ability to impact even more women around the world.”

For the 2023 calendar year, the company posted revenues of $35m.

The acquisition is projected to have a slight dilutive effect on Hologic’s non-GAAP earnings per share for the fiscal year 2024.