Medical technology company Hologic Inc. has announced the acquisition of privately-held Biotheranostics Inc. in a deal worth $230 million. Shares of Hologic, which closed 4% higher on Tuesday, have gained 46.5% over the past 12 months. Hologic (HOLX) said that Biotheranostics provides molecular diagnostic tests for cancer, and therefore, the deal would help the company expand its presence in the fast-growing oncology market. The deal is likely to close in February and “is expected to be slightly dilutive to Hologic’s non-GAAP earnings per share in fiscal 2021, break-even in 2022, and accretive thereafter,” the company said.
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