Bejing: China has approved private equity firms Blackstone and TPG’s acquisition of medical diagnostics firm Hologic, according to a list of deal approvals from the country’s market regulator released on Tuesday.
Hologic, which develops and distributes medical imaging and diagnostic products for women’s healthcare, has manufacturing operations and a partnership in China.
The State Administration for Market Regulation did not detail whether the approval was for the acquisition of specific Hologic China-based units.
The regulator has jurisdiction over foreign companies with substantial business or sales in China.
Blackstone and TPG announced in October they would take Hologic private for $18.3 billion including debt, in the largest medical devices deal in almost two decades. (Reporting by Liz Lee and Shi Bu; Editing by Christopher Cushing)
