Hologic acquires uterine fibroid system developer Interlace Medical

13 Jan 2011

Hologic, Inc. a developer of  diagnostics, medical imaging systems and surgical products for women's health has acquired Interlace Medical, Inc. a developer and manufacturer of the MyoSure hysteroscopic tissue removal system.

The purchase price for the transaction was $125 million in cash, subject to adjustment, plus two annual contingent payments. The contingent payments will be payable in cash and each will be calculated as a multiple of the incremental revenue growth over the prior year.

Interlace's operations will be integrated within Hologic's GYN Surgical Products division.

"The acquisition of Interlace is consistent with our strategy to strengthen our leadership position in women's healthcare," said Steve Williamson, Senior Vice President and General Manager, GYN Surgical Products.

"MyoSure is an innovative technology that is designed to safely and easily remove fibroids and polyps that plague millions of women. This product is a natural extension of our industry-leading OB/GYN product portfolio which now provides women with minimally invasive treatment options from their child bearing years to menopause. The strong clinical performance and ease of use of the MyoSure device make it a natural fit with our NovaSure endometrial ablation and Adiana permanent contraception product lines."

Interlace, a privately-held company headquartered in Framingham, Massachusetts, USA, is dedicated to developing innovative technologies to treat common gynaecological diseases for improved patient outcomes while simplifying physician adoption and reducing the cost of healthcare.

In the United States, there are approximately 5 million women suffering from symptomatic fibroids or polyps who can be treated with the MyoSure procedure. Symptomatic fibroids or polyps can be debilitating and often are accompanied by heavy menstrual bleeding, pelvic cramping and pain with periods.

The MyoSure system is a new and innovative treatment that is designed to provide incision-less, fast and safe removal of intracavitary fibroids and polyps and effective relief of the associated abnormal uterine bleeding symptoms. It provides a treatment option for women seeking to preserve uterine form and function.

The easy-to-use device is designed to provide gynaecologists with confidence and control via a minimally-invasive care option for their patients. Clinical studies show the efficacy rate for hysteroscopic removal of fibroids is very high with close to 96 percent of patients receiving symptom resolution and less than 10 percent recurrence at five years.

"The Interlace acquisition gives Hologic a minimally-invasive treatment option for uterine fibroids and polyps," said Dr. Edward Evantash, Medical Director and Vice President Medical Affairs. "Women with these uterine abnormalities typically suffer from heavy periods, discomfort, and infertility. The MyoSure system is designed to allow physicians to remove these abnormalities safely and effectively with little to no recovery time while preserving the uterus."

Hologic will roll out physician training and education programs for MyoSure, culminating in the full integration and promotion of the product in early 2011.

"We are excited to be joining Hologic to build upon the early success of MyoSure," said Bill Gruber, President and CEO of Interlace. "Hologic has established itself as the leader in women's health with best-in-class products, medical education, and physician training, service and support capabilities. By joining forces, we are confident we can give more women in need access to the MyoSure treatment."