Cytyc
Medical Devices, 1047 Elwell Ct, Palo Alto, California, 94303, United States, 1001-5000 Employees
Phone Number: +12*********
Who is CYTYC
Medical testing equipment maker Hologic said it will acquire competitor Cytyc in a cash-and-stock deal worth $6.2 billion, Hologic announced on Sunday afternoon. Under terms of the agreem...
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Headquarters: 1047 Elwell Ct, Palo Alto, California, 94303, United States
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Date Founded: 1987
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Employees: 1001-5000
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Revenue: $50 Million to $100 Million
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Active Tech Stack: See technologies
Industry: Medical Devices
SIC Code: 3826
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NAICS Code: 334516 |
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Frequently Asked Questions Regarding Cytyc
Answer: Cytyc's headquarters are located at 1047 Elwell Ct, Palo Alto, California, 94303, United States
Answer: Cytyc's phone number is +12*********
Answer: Cytyc's official website is https://cytyc.com
Answer: Cytyc's revenue is $50 Million to $100 Million
Answer: Cytyc's SIC: 3826
Answer: Cytyc's NAICS: 334516
Answer: Cytyc has 1001-5000 employees
Answer: Cytyc is in Medical Devices
Answer: Cytyc contact info: Phone number: +12********* Website: https://cytyc.com
Answer: Medical testing equipment maker Hologic said it will acquire competitor Cytyc in a cash-and-stock deal worth $6.2 billion, Hologic announced on Sunday afternoon. Under terms of the agreement, Cytyc [CYTC Unavailable () ] shareholders will receive $16.50 in cash and 0.52 shares of Hologic [HOLX 17.11 -0.47 (-2.67%) ] stock for every share they own. Cytyc's payout is a 33% premium to its closing price of $35.05 on Friday. The cash portion of the deal will be funded by Goldman Sachs [GS 109.43 -2.10 (-1.88%) ], Hologic said. "Both Hologic and Cytyc provide some of the most advanced technology addressing women's health needs," said Hologic CEO Jack Cumming," in a prepared statement. "By combining our companies' complementary, best-in-class products and technologies, we expect to drive enhanced growth and value creation." Cumming will serve as the new company's chief executive and Cytyc CEO Patrick Sullivan will stay on as chairman. The company said the acquisition, expected to close in the third quarter, will add 10 cents to Hologic's bottom line in the first year. In 2006, Hologic posted earnings of 56 cents a share on sales of $463 million but prior to the merger announcement Wall Street analysts expect earnings to triple in 2007 on sales growth of 56%, according to Thomson Financial. Cytyc reported earnings of $1.14 a share on sales of $608 million.
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