Hologic CEO Steve MacMillan to Retire Following Completion of Go-Private Transaction

Key Points

• Steve MacMillan, Hologic’s long-serving Chairman, President, and CEO, will retire upon the closing of Hologic’s go-private transaction with Blackstone and TPG.
• All required regulatory approvals for the transaction have been received; the deal is expected to close on or about April 7, 2026.
• MacMillan’s tenure marked by significant value creation: 65% revenue growth, 184% growth in non-GAAP earnings per share, 241% increase in share price, and a workforce expansion by over 1,500 employees.
• A new CEO is expected to be announced when the transaction closes.
• The transaction and leadership transition may impact share valuation, operations, personnel retention, and business relationships.

Detailed Report

Hologic, Inc. (Nasdaq: HOLX) announced that Steve MacMillan, who has led the company for more than 12 years, will retire as Chairman, President, and CEO immediately upon the closing of the company’s go-private transaction with private equity giants Blackstone and TPG. Hologic has now received all required regulatory approvals for the proposed acquisition, and the transaction is expected to close on or about April 7, 2026.

Impactful Leadership and Financial Performance
Steve MacMillan joined Hologic in December 2013 and was elected Chairman in 2015. Under his stewardship, Hologic experienced a remarkable transformation and delivered significant value for shareholders and stakeholders. Over his tenure:

• Revenue rose by 65%
• Non-GAAP earnings per share surged by 184%
• The company’s share price climbed by an impressive 241%
• The workforce grew by more than 1,500 employees

These metrics underscore the scale of Hologic’s operational and financial turnaround, especially considering the company’s robust response to the COVID-19 pandemic and its consistent growth trajectory.

Strategic Transaction Details
The go-private transaction with Blackstone and TPG is a significant strategic shift for Hologic. The company’s board, led by independent director Amy Wendell, emphasized MacMillan’s pivotal role in orchestrating the turnaround, guiding the company through the pandemic, and now steering it into a new era as a private entity.

Leadership Transition and Uncertainties
The identity of MacMillan’s successor as CEO will be disclosed at the close of the transaction, a development that shareholders and market watchers will closely monitor. Such a leadership transition, especially as the company becomes privately owned, could have material implications for Hologic’s future direction, strategy, and culture.

Steve MacMillan’s Background
Prior to joining Hologic, MacMillan served as President and CEO of Stryker from 2005 to 2012. His earlier experience includes senior roles at Pharmacia and Johnson & Johnson, and he began his career at Procter & Gamble. MacMillan holds a BA in Economics from Davidson College and attended Harvard Business School’s advanced management program. His board service includes Illumina (as non-executive chair), AdvaMed, Alere, Boston Scientific, and Texas Instruments.

Risks and Shareholder Considerations

• Price Sensitivity: The CEO’s retirement and the transition to private ownership are material developments for shareholders. These events could impact the company’s valuation, trigger near-term volatility, and affect the company’s ability to retain and attract key personnel.
• Completion of Transaction: While all regulatory approvals have been received, risks remain regarding the timely closing of the merger, potential disruption to management, relationships with customers and partners, and possible unexpected costs or expenses.
• Potential Litigation and CVR Payments: The company warns of risks related to litigation, adverse market reaction, and uncertainties regarding Contingent Value Rights (CVRs) payments after the transaction closes, which could affect shareholder returns.
• Forward-Looking Statements: The company highlights that forward-looking statements in its communications are subject to significant risks and uncertainties, including potential unforeseen events that could materially alter anticipated outcomes.
• Public Filings: Shareholders are encouraged to review Hologic’s latest filings with the SEC for a comprehensive view of risks and ongoing developments.

Contact Information

Media:
Bridget Perry, Senior Director, Corporate Communications
(+1) 508.263.8654
[email protected]

Investors:
Michael Watts, Corporate Vice President, Investor Relations
(+1) 858.410.8514
[email protected]

Conclusion

The retirement of Steve MacMillan and the completion of Hologic’s go-private transaction with Blackstone and TPG mark a watershed moment for the company and its investors. With the transition to private ownership and a change in executive leadership, shareholders should be aware of the material risks and opportunities that these developments entail. The announcement is likely to have a significant impact on the company’s valuation, strategic direction, and stakeholder relationships, making it a highly price-sensitive event.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own research and consult with professional advisors before making investment decisions.

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