Hologic moves towards Gen-Probe acquisition

Hologic has announced that Gen-Probe chairman and chief executive officer Carl Hull has revealed his willingness to continue working with the combined companies for a minimum period of 15 months, serving as senior vice-president and general manager of their joint diagnostics division.

This represents a major step forward in Hologic's acquisition plans for the global molecular diagnostics firm.

Rob Cascella, president and chief executive officer of the company, claimed it is making "great progress" towards concluding the deal.

"The global outlook for diagnostics is compelling and as a combined company we expect to capitalise on the significant opportunities in the market," he added.

Combining the two firms' expertise and product lines will deliver significant value benefits to shareholders in both businesses over the coming years, concluded Mr Cascella.

Hologic recently announced its Q2 results, revealing total revenue of $471.2 million (304 million pounds) following year-on-year growth in all segments of its manufacturing and development operations.