Blackstone and TPG are in advanced negotiations to acquire Hologic, a leading U.S. medical device and diagnostics company, in a deal expected to value the firm at more than $17bn including debt, according to people familiar with the discussions cited by Bloomberg.

The private equity firms are in the final stages of talks and could announce an agreement within days. The proposed offer is said to exceed $75 per share. Hologic’s stock surged 6% in after-hours trading following the news, closing at $69.85 on Friday for a market capitalisation of about $15.5bn.

A final agreement has not yet been reached, and talks could still be terminated, the people said. Representatives from Blackstone, TPG, and Hologic declined to comment.

Headquartered in Marlborough, Massachusetts, Hologic develops diagnostic and imaging systems focused on women’s health, including screening tools for breast and cervical cancer and testing solutions for infectious diseases such as Covid-19.

The potential buyout would be among the largest private equity transactions globally this year, reinforcing the sector’s sustained appetite for healthcare assets despite volatile market conditions.

Blackstone and TPG had previously re-engaged with Hologic’s board last month, reviving discussions around a possible acquisition that had initially been explored earlier in 2025.

If finalised, the deal would highlight private equity’s continued push into healthcare, where long-term growth prospects and stable cash flows have attracted significant institutional interest.

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