Hologic acquires uterine fibroid system developer Interlace Medical
13 Jan 2011
Hologic, Inc. a developer of diagnostics, medical imaging systems and surgical products for women's health has acquired Interlace Medical, Inc. a developer and manufacturer of the MyoSure hysteroscopic tissue removal system.
The purchase price for the transaction was $125 million in cash, subject to adjustment, plus two annual contingent payments. The contingent payments will be payable in cash and each will be calculated as a multiple of the incremental revenue growth over the prior year.
Interlace's operations will be integrated within Hologic's GYN Surgical Products division.
"The acquisition of Interlace is consistent with our strategy to strengthen our leadership position in women's healthcare," said Steve Williamson, Senior Vice President and General Manager, GYN Surgical Products.
"MyoSure is an innovative technology that is designed to safely and easily remove fibroids and polyps that plague millions of women. This product is a natural extension of our industry-leading OB/GYN product portfolio which now provides women with minimally invasive treatment options from their child bearing years to menopause. The strong clinical performance and ease of use of the MyoSure device make it a natural fit with our NovaSure endometrial ablation and Adiana permanent contraception product lines."
Interlace, a privately-held company headquartered in Framingham, Massachusetts, USA, is dedicated to developing innovative technologies to treat common gynaecological diseases for improved patient outcomes while simplifying physician adoption and reducing the cost of healthcare.
In the United States, there are approximately 5 million women suffering from symptomatic fibroids or polyps who can be treated with the MyoSure procedure. Symptomatic fibroids or polyps can be debilitating and often are accompanied by heavy menstrual bleeding, pelvic cramping and pain with periods.
The MyoSure system is a new and innovative treatment that is designed to provide incision-less, fast and safe removal of intracavitary fibroids and polyps and effective relief of the associated abnormal uterine bleeding symptoms. It provides a treatment option for women seeking to preserve uterine form and function.
The easy-to-use device is designed to provide gynaecologists with
confidence and control via a minimally-invasive care option for
their patients. Clinical studies show the efficacy rate for
hysteroscopic removal of fibroids is very high with close to 96
percent of patients receiving symptom resolution and less than 10
percent recurrence at five years.