A New Test for Hologic
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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