* Deal for $85 million plus 2-yr contingent earn-out
* Buyout neutral on Hologic's earnings in FY2011
July 6 (Reuters) - Hologic Inc agreed to acquire Sentinelle Medical Inc, a privately owned Canadian medical imaging company, for $85 million to boost its breast cancer detection product portfolio.
The deal includes a contingent earn-out payment, in installments, based on the revenue growth in Sentinelle's business in the two years following the closing during the third calendar quarter, the diagnostic test maker said.
The deal may not affect Hologic's earnings in fiscal 2011, the company said.
Sentinelle Medical is a developer of advanced breast imaging technologies using high-field strength magnetic resonance imaging.
Shares of Hologic closed at $13.58 Tuesday on Nasdaq. (Reporting by Shailesh Kuber in Bangalore; Editing by Don Sebastian)Keywords: HOLOGIC/ (shailesh.kuber@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: shailesh.kuber.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Buyout neutral on Hologic's earnings in FY2011
July 6 (Reuters) - Hologic Inc agreed to acquire Sentinelle Medical Inc, a privately owned Canadian medical imaging company, for $85 million to boost its breast cancer detection product portfolio.
The deal includes a contingent earn-out payment, in installments, based on the revenue growth in Sentinelle's business in the two years following the closing during the third calendar quarter, the diagnostic test maker said.
The deal may not affect Hologic's earnings in fiscal 2011, the company said.
Sentinelle Medical is a developer of advanced breast imaging technologies using high-field strength magnetic resonance imaging.
Shares of Hologic closed at $13.58 Tuesday on Nasdaq. (Reporting by Shailesh Kuber in Bangalore; Editing by Don Sebastian)Keywords: HOLOGIC/ (shailesh.kuber@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: shailesh.kuber.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.