Under CEO Stephen MacMillan's watch, Hologic has been able to focus on structural competitive advantages, improve its balance sheet, and judiciously step into complementary markets, which has smoothed out the vagaries of product cycles.
Hologic was first to market with an FDA-approved 3D mammography platform in the U.S., giving it a considerable head start in its installed base against GE and Siemens.
Bears
Shifts in screening guidelines and disruptive technologies can have a significant effect on Hologic's business as we saw with the advent of HPV diagnostics on traditional Pap tests.
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Hologic manufactures proprietary products for the healthcare needs of women. The company operates in five segments: diagnostics (60% of total sales, boosted by pandemic), breast health (14% of sales, suppressed by pandemic), surgical (11%), and skeletal health (1%). While the company traditionally focused on breast health, the acquisition of Gen-Probe put greater emphasis on commercial diagnostics. The United States accounts for the largest portion of the firm's revenue (69%), followed by Europe (20%), Asia (8%), and other international markets (3%). Hologic is headquartered in Bedford, Massachusetts.