By Robb M. Stewart
Hologic's longtime chairman, president and chief executive, Steve MacMillan, plans to retire when the medical-technology company's takeover by Blackstone and TPG is finalized.
The company said all required regulatory approvals for the planned transaction have now been received, and that the deal is set to close on or about Tuesday.
Marlborough, Mass.-based Hologic said its next chief executive is expected to be announced when the transaction closes.
Hologic in October agreed a deal that would see Blackstone and TPG buy it for as much as $18.3 billion, including debt. Shareholders are set to receive $76 a share in cash as part of a transaction that also includes a nontradable contingent value right to receive up to $3 a share in two payments of up to $1.50 each, for total consideration of up to $79 a share.
MacMillan, 62 years old, joined Hologic as president and CEO at the end of 2013. He was elected chairman in 2015. From 2005 to 2012, he was president and CEO of Stryker, where he had been president since 2003. Before that, he was a senior executive at Pharmacia and Johnson & Johnson. He began his career at Procter and Gamble in 1985.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
04-06-26 0845ET
