par Gus Iversen
, Editor in Chief | August 27, 2020
Hologic has acquired minimally invasive fibroid treatment company, Acessa Health Inc. for approximately $80 million in cash plus contingent payments based on future revenue growth.
The privately held firm offers the Acessa ProVu system, a fully-integrated laparoscopic solution that combines radiofrequency ablation with advanced intra-abdominal ultrasound visualization and guidance mapping, enabling physicians to effectively and safely treat women with symptomatic, benign uterine fibroids. Clinical studies have shown the system to be a safe and minimally invasive alternative to hysterectomy and myomectomy.
“Acquiring Acessa Health strengthens our leadership position in the GYN surgical space and broadens our fibroid treatment portfolio with a highly complementary new product,” Essex Mitchell, Hologic’s newly appointed division president for GYN Surgical Solutions said in a statement. “Together with the Acessa team, we can leverage our core women's health expertise, commercial infrastructure and physician relationships to accelerate our growth strategy and offer superior technology that translates into better clinical outcomes for women.”
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Uterine fibroids — also referred to as uterine leiomyomas or myomas — are common, benign tumors that grow in or on the uterus. They can cause heavy menstrual bleeding, pain, frequent urination, and other symptoms that lead to missed work time and limit normal daily activities. The incidence of uterine fibroids among women is between 50% and 60%, increasing to approximately 70% by age 50.
“The Acessa Health team is exceedingly passionate about providing women with more options to address their symptomatic uterine fibroids,” said Kim Rodriguez, Acessa Health’s president, CEO and co-founder. “Now, under Hologic’s leadership and with their commercial presence, the Acessa ProVu system can more rapidly become the standard of care and greatly benefit more women.”
Hologic estimates that Acessa Health will generate approximately $13 million of revenue in fiscal 2021. The acquisition is expected to be slightly dilutive to Hologic’s non-GAAP earnings per share in fiscal 2021, break-even in 2022, and accretive thereafter.