Private equity firms Blackstone and TPG are in talks to acquire medical diagnostics company Hologic in a potential multi-billion dollar deal. Hologic’s CEO could receive over $40 million in stock and cash if a change of control occurs. Despite recent stock depreciation, Hologic has shown operational improvement and growth potential.

The parties are currently in the due diligence process, and a deal is not expected in the next month. Blackstone and TPG had previously offered about $16 billion for Hologic, which was rejected. Hologic’s shares have declined recently, trading at $66 with a market cap of $14.7 billion.

Hologic specializes in women’s health diagnostics, with a focus on cancer screening and infectious disease testing. The company has seen recovery in key segments and exceeded market expectations in the second quarter. Management has raised full-year earnings guidance and expects mid-single-digit revenue growth in fiscal 2026.

Read more at Yahoo Finance: Blackstone and TPG revive interest in buying Hologic, source says