Madison based Third Wave Technologies, Inc. (TWTI) has agreed to be acquired in whole by Bedford, MA based Hologic Inc. (HOLX) for $580 million dollars. The 180 employees in Wisconsin should be unaffected by the ownership change.
GEN News: Third Wave develops and markets molecular diagnostic reagents for DNA and RNA analysis based on its Invader® chemistry. … The company recently submitted to the FDA PMA applications for two HPV tests.
“Hologic has an established sales and distribution network for women's health as well as extensive relationships with clinical labs and OB/GYN channels,” according to Jack Cumming, chairman and CEO of Hologic. “If and when Third Wave's HPV tests receive FDA approval, which we hope will be in the first half of calendar 2009, we will be well-positioned to take these products quickly and effectively to market.”