Hologic Goes Private, Hires ex-Baxter CEO Joe Almeida as Chief Exec

Hologic announced it has completed its acquisition by funds managed by Blackstone and TPG. The transaction was valued at $79 per share and establishes Hologic as a private company.

The deal also includes minority investments from a subsidiary of the Abu Dhabi Investment Authority (ADIA) and a GIC affiliate. In connection with the transaction’s completion, the company appointed José (Joe) E. Almeida as its CEO, effective immediately.

“Hologic is an incredible company with a storied history of innovation and an unparalleled reputation as a leader in women’s health,” said Almeida. “I am thrilled to be joining at such a pivotal moment. 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 was most recently chairman, president, and CEO of Baxter, where he served from 2016 to early 2025. During his tenure he led the company’s strategic repositioning, focusing on operational improvement, portfolio changes, and medical product innovation.

Before Baxter, Almeida was chairman, president, and CEO of Covidien until its acquisition by Medtronic in 2015. Prior to Covidien, he had senior leadership roles at Tyco Healthcare, and served in executive positions at Wilson Greatbatch Technologies, Acufex Microsurgical and Codman & Shurtleff, a division of Johnson & Johnson.

Almeida succeeds Stephen MacMillan, who recently retired from his role as Hologic’s chairman, president, and CEO after over 12 years leading the company.

Details about the transaction

The deal was announced in October 2025 and approved by Hologic stockholders in February.

Stockholders will receive $76 per share in cash, in addition to a non-tradeable contingent value right (CVR) to receive up to $3 per share in two payments of up to $1.50 each. The CVR would be paid following achievement of global revenue goals for the company’s Breast Health business in fiscal years 2026 and 2027.

“Hologic has established itself as a global leader in advancing women’s health, with a proven track record of delivering life-changing medical technologies,” said Ram Jagannath, Senior Managing Director and Global Head of Healthcare at Blackstone We are 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.”

The company’s common stock has stopped trading and will be delisted from the Nasdaq stock market.

“Hologic’s mission is to advance detection and care to improve health outcomes for women worldwide,” said Alex Albert, Partner at TPG and Co-Head of Healthcare for TPG Capital. “Investing behind healthcare innovation has been a core thematic focus for TPG over decades, and we have long admired Hologic as an industry leader. Under Joe’s experienced and proven leadership, we are proud to partner with Hologic and Blackstone to support clinical excellence and deliver meaningful impact for patients.”