Blackstone and TPG Complete Hologic Take-Private, Name Joe Almeida CEO

Funds managed by Blackstone and TPG completed their acquisition of Hologic on April 7, taking the maker of mammography systems and diagnostic tests private in a transaction valued at up to $79 per share, Hologic announced. The company named José (Joe) E. Almeida, the former chief executive of Baxter International, as its CEO, effective immediately.

The deal includes significant minority investments from a wholly owned subsidiary of the Abu Dhabi Investment Authority and an affiliate of GIC, according to the release. Hologic's common stock has ceased trading and will be delisted from the Nasdaq Stock Market.

Deal terms

Under the agreement, Hologic stockholders receive $76 per share in cash plus a non-tradable contingent value right (CVR) to receive up to $3 per share more, paid in two installments of up to $1.50 each. The CVR payments depend on Hologic's Breast Health business reaching certain global revenue goals in fiscal years 2026 and 2027, the company said.

The take-private was announced on October 21, 2025, and Hologic stockholders approved it on February 5, 2026. MedTech Dive reported on April 6 that the deal values the company at $18.3 billion, and that Hologic said it had received all needed regulatory approvals ahead of closing. Hologic reported $3.26 billion in revenue in its 2025 fiscal year, which ended in September, according to the same report.

Hologic will keep its headquarters in Marlborough, Massachusetts, MedTech Dive reported.

A new chief executive

Almeida led Baxter as chairman, president and CEO from 2016 to early 2025. Before that he was chairman, president and CEO of Covidien until its acquisition by Medtronic in 2015, and earlier held senior roles at Tyco Healthcare, according to Hologic.

"Hologic is an incredible company with a storied history of innovation and an unparalleled reputation as a leader in women’s health," Almeida said in the release. "With the backing of Blackstone and TPG, we are 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 succeeds Stephen MacMillan, who retired as chairman, president and CEO after more than 12 years leading the company. MacMillan, 62, had been CEO since 2013 and previously ran Stryker, MedTech Dive reported. During his tenure, Hologic's revenue rose 65% and its share price more than tripled, according to the publication.

What the buyers said

Ram Jagannath, senior managing director and global head of healthcare at Blackstone, said in the release that the firm was "thrilled to partner with Joe Almeida — an exceptional medical technology leader — alongside Hologic’s talented team and TPG to drive the company’s next phase of growth and innovation."

Alex Albert, a partner at TPG and co-head of healthcare for TPG Capital, said TPG had "long admired Hologic as an industry leader."