Hologic CEO Retires Following $18.3 Billion Private Equity Buyout

On April 6, 2026, Hologic, a leader in women's health medical technology, announced,CEO, Chairman and General ManagerSteve McMillan, willOfficially retired after the company was acquired by Blackstone Group and TPG.。

The privatization transaction was finally completed today (April 7).Total Enterprise Value of the transaction is up to 18.3 billion US dollars (approximately RMB126 billion yuan）, with the highest price per share reaching $79. Hologic stated that all regulatory approvals have been obtained, and the new CEO will be announced separately after the completion of the transaction.

McMillan joined Hologic in December 2013, when the company was at a low point in its development. He achieved a significant turnaround in less than two years and subsequently led the company through years of sustained growth. During the COVID-19 pandemic, he drove unprecedented efforts in the company’s diagnostic product response, establishing Hologic as an undeniable force in global women's health.

Hologic's lead independent director Amy Wendell commented: "He is one of the most respected leaders in the medical technology industry. Not only did he successfully reverse the business, but he also skillfully guided the company through a privatization deal."

McMillan himself stated, "Leading Hologic is the greatest honor of my career. I believe that as a private company controlled by Blackstone and TPG, they will make greater contributions to women's health."

McMillan's career resume is impressive:He previously served as President and CEO of Stryker for seven years and held senior management positions at Pharmacia and Johnson & Johnson.。

The $18.3 Billion Privatization Drama Nears Its End: Hologic, Under PE Management, Enters a New Chapter in the "Post-McMillan Era." Meanwhile, the Entire Medical Technology Industry Is Being Redefined by the Undercurrents of Private Equity Capital.

In the past two years, large medical technology companies have sought to cooperate with private equity firms for spin-offs, divestitures, or direct acquisitions:

• Medtronic, Johnson & Johnson, Baxter and other giants have successively introduced private equity capital to promote the divestiture of non-core businesses;

• Surmodics was approved for sale to a PE company by the end of 2025;

• Philips and Bioventus have sold parts of their business units to private equity;

• Highridge Medical (formerly part of ZimVie) recently sold its orthopedic treatment division to a private equity firm.

• Olympus Collaborates with Revival Healthcare Capital to Advance Endoluminal Robotic Technology.

In addition, private equity is also making large-scale investments in mature platforms, such as the investment in Medline a few years ago and the strategic stake in Henry Schein in 2025.

Analysts believe that,After Hologic's privatization, it will no longer be constrained by short-term earnings pressure., allowing for more flexible long-term innovation in the field of women's health, particularly in diagnostics, breast health, and surgical product lines.The retirement of McMillan marks the end of an era and also signals the potential start of a more radical strategy under the new governance framework.