Blackstone, TPG Explore Sale of Hologic Surgical Unit at Over $4 Bn Valuation
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Blackstone and TPG, together with the Abu Dhabi Investment Authority (ADIA) and Singapore's GIC, completed the acquisition of Hologic in an $18.3 billion public-to-private transaction that officially closed in April. The deal ranked among the largest leveraged buyouts announced last year.
Private equity firms Blackstone and TPG are exploring the sale of Hologic's surgical business for more than $4 billion, according to reports, as they look to reduce debt and return capital to investors following one of the largest leveraged buyouts completed last year.
The surgical division develops medical devices used by gynecologists for minimally invasive procedures. The firms are reportedly working with financial advisers on a potential transaction that is still in its early stages and may not necessarily result in a sale. The process is expected to attract interest from both private equity firms and strategic medical technology buyers.
Blackstone and TPG, together with the Abu Dhabi Investment Authority (ADIA) and Singapore's GIC, completed the acquisition of Hologic in an $18.3 billion public-to-private transaction that officially closed in April. The deal ranked among the largest leveraged buyouts announced last year.
The potential divestment comes as private equity firms face mounting pressure to generate liquidity for investors after a prolonged slowdown in exits. Higher interest rates have reduced buyout activity, making asset sales and public listings increasingly important for returning capital.
Blackstone has accelerated its exit activity over the past year, reportedly monetizing nearly $50 billion in private equity investments through a combination of asset sales and initial public offerings. These included transactions involving broadband provider Hotwire, medical device manufacturer Medline Industries, and industrial services company Legence.
Neither Blackstone nor TPG has publicly commented on the reported sale process.
The potential transaction also reflects broader portfolio reshuffling across the medical technology sector. Several healthcare companies are evaluating strategic alternatives for non-core businesses. CooperCompanies has initiated a strategic review that could result in the sale of its eye surgery business, while medical technology outsourcing company Integer Holdings is also reviewing parts of its portfolio.
Despite a decline in private equity's share of global deal activity during the first half of the year, from 24.8% to 21%, healthcare remained one of the strongest sectors for mergers and acquisitions. Global healthcare deal value increased 83.2% year over year to approximately $271 billion, highlighting continued investor interest in healthcare assets despite a slower overall buyout market.
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