Hologic planning to repay $540 million note used to acquire Third Wave by 2010

By Jennifer Lanning Drey

Portland, Ore., Jan. 12 - Hologic, Inc. is focused on de-leveraging quickly, and the company's goal is to have paid off the $540 million note used to purchase Third Wave Technologies by 2010, Robert Cascella, chief operating officer of Hologic, said Monday during a presentation at the JPMorgan Healthcare Conference in San Francisco.

"Our focus will be cash flow and building a cash balance and also de-leveraging," Cascella said.

Hologic generates about $75 million per quarter.

Also during the presentation, Hologic chief executive officer Jack Cumming announced that the company expects first-quarter fiscal 2009 revenues to be 3% below previously issued guidance, primarily due to reduced revenues in its breast health segment.

The company believes the decline resulted from cost pressures faced by hospitals.

Hologic intends to continue investing heavily in research and development with its biggest focus remaining breast health.

Hologic is a Bedford, Mass.-based medical technologies company.

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