Blackstone and TPG completed their acquisition of Hologic, taking the molecular diagnostics and women’s health company private in a transaction valued at up to $18.3 billion. Under the terms, Hologic shareholders receive $76 per share in cash plus a non-tradeable contingent value right for up to $3 per share across payments tied to global revenue goals for fiscal years 2026 and 2027. José Almeida was named CEO effective immediately, with the company delisting from Nasdaq. The deal adds private-market capital and operational flexibility as Hologic navigates a portfolio spanning molecular diagnostics and technologies for breast and skeletal health, gynecological products, and surgical solutions. For biotech-adjacent diagnostics developers, the transaction is a reminder that large platforms and payer-facing assets can still command major valuations, even as the IPO window varies widely by segment.