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Hologic signs consent agreement with FTC
By Elaine Rigoli
Tampa, Fla., July 7 - Hologic, Inc. has signed a consent agreement with the Federal Trade Commission, which would resolve Hologic's dispute with the FTC regarding its acquisition of the Mammotest prone bed breast biopsy system intellectual property acquired as part of the mammography intellectual property assets purchased from Fischer Imaging Corp. in September 2005.
The consent agreement remains subject to final approval by the FTC after a 30-day public comment period.
As part of the consent agreement, Hologic has agreed to sell, subject to FTC approval, all of the intellectual property relating to the Mammotest system to Siemens AG for a cash payment of $6.5 million.
Hologic will retain a royalty-free, non-exclusive, perpetual, irrevocable, worldwide right and license to use the intellectual property relating to the Mammotest system, according to a news release.
As a result of the sale of intellectual property, Hologic will record an impairment charge to the carrying value of the underlying technology. However, the net impact of the impairment charge and the proceeds to be received from Siemens is expected to have a positive impact on Hologic's results of operations.
The consent agreement and the Siemens agreement exclude the Senoscan digital mammography intellectual property assets purchased by Hologic in the Fischer acquisition, which will continue to be retained by Hologic, the release said.
Separately, Hologic also announced that the FTC has closed its investigation in the pending acquisition of Suros Surgical Systems, Inc.
Hologic develops diagnostic and medical imaging systems and is based in Bedford, Mass.
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