A New Test for Hologic

The diagnostics outfit will buy Cytyc to expand its women's health offerings. One pro figures the industry could see more consolidation ahead

In the latest sign that the once sleepy medical diagnostics industry is in a consolidation phase, Hologic (HOLX) said on May 21 it would acquire Cytyc Industries (CYTC) in a cash and stock acquisition. News of the pairing, which would cover a wide scope of women's health products, including diagnostics for breast and cervical cancers, sent shares in Cytyc soaring more than 21% to trade at $42.50 per share Monday afternoon. Hologic shares were trading down about 7%.

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