Hologic (NASDAQ:HOLX) has agreed to sell its Cynosure medical aesthetics business to an affiliate of funds managed by Clayton, Dubilier & Rice for $205M in cash, although certain adjustments at closing will trim the proceeds to ~$138M.
Under the terms of the deal, expected to close by year-end, ~825 employees will transfer with the business.
On another note, the company intends to institute an accelerated share buyback plan to repurchase $205M of its common stock. The new authorization is in addition to the $211M remaining under its current plan.
