Cytyc's Breakout Year
Cytyc Corp., which makes the ThinPrep test for cervical cancer screening, has had a breakout year. A new deal with Quest Diagnostics Inc., reimbursement from a key managed care organization, Aetna, and weaker than expected competition is driving sales and the company's stock price.
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What do you get when you cross a women's health company that sells screening and diagnostic imaging technologies to hospitals and radiologists, with a women's health company that sells diagnostics and therapeutic devices to Ob-Gyns? A single company capable of selling goods and services across the entire continuum of care, according to Rob Cascella, president & COO of Hologic, who thus revealed the reasoning behind the $6.5 billion proposed merger of Hologic with Cytyc.
A business development panel representing the emerging group of mid-sized device dealmakers that are actively looking for innovative technology from small companies discusses the current state of medtech dealmaking.
Women's health is an area long shunned by pharmaceutical and diagnostic companies. But that is starting to change thanks to the successes of companies such as Cytyc and Digene, who have built successful testing franchises in the Ob/ Gyn market. As companies such as PerkinElmer and others look to develop new tests in this market, a spate of start-ups are developing technologies that might fit the bill. Of greatest interest are the so-called molecular tests since they offer the advantage of premium pricing.