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Hologic (HOLX) to Boost Breast Imaging Modality With New Pact
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Hologic Inc. (HOLX - Free Report) recently entered into an international collaboration with Bayer (BAYRY - Free Report) to offer contrast-enhanced mammography (CEM) solutions. The partnership will enhance the detection of breast cancer for women in multiple countries across the European, Canadian and Asia Pacific regions.
The recent move will fortify Hologic’s Breast Health Solutions
About CEM
CEM is a highly sensitive and relatively low-cost breast imaging modality that combines digital mammography with the administration of a contrast agent to support breast cancer diagnosis and guide treatment decisions.
The World Health Organisation (WHO) estimates that 2.3 million women will be diagnosed with breast cancer in 2020, and there will be 685,000 fatalities worldwide. A growing number of reputable scientific studies support the effectiveness of CEM as a mammography supplement. It can be carried out as part of routine clinical practice and employed in various therapeutic contexts, such as preoperative assessment of the severity of the disease or inconclusive results from earlier imaging techniques.
Strategic Implications
The collaboration combines the industry-leading technology of the two firms (Hologic mammography gantries and Bayer CEM-approved injection systems) to make it possible to administer contrast material during a mammogram. With the new partnership, Hologic and Bayer expect to provide radiologists and their teams with the best possible assistance by offering a complete product package and the practical training required to integrate CEM into their facility's workflow.
Per Hologic management, contrast-enhanced mammography has drawn more attention in the past few years as a potential supplementary diagnostic tool. Through this collaboration with Bayer, physicians everywhere can include CEM in their workflows for diagnosing breast cancer.
Image Source: Zacks Investment Research
Breast cancer is the most common cancer globally, touching millions of women and the people they love worldwide. Making accurate and prompt detections is vital to enhance patient outcomes and save lives. The companies are thrilled to work together to provide a holistic solution to their clients and broaden access to a developing breast imaging modality.
Industry Prospects
Per a report by Grand View Research, the global breast imaging market size was valued at $4.7 billion in 2022 and is projected to expand at a CAGR of 8.6% by2030. Factors such as the rising prevalence of breast cancer, technological breakthroughs in breast imaging, and investment from several organizations in breast cancer screening programs drive the market.
Recent Developments Within Breast Health
Hologic has been making impressive progress in its Breast Health arm lately, leveraging its strategic expansion efforts to diversify business across the patient continuum of care.
In the third quarter of fiscal 2023, the Breast Health arm registered strong growth primarily driven by increased volumes of digital mammography systems, primarily 3D Dimensions systems and related workstation and workflow products, including software. Further, increased Trident systems unit sales and higher Faxitron breast-conserving surgery products aided growth. The increase in volume was driven by the improvement in supply chain constraints related to electronic components, primarily semiconductor chips. The company is also witnessing increased sales of its interventional breast solutions products, driven by Brevera systems and related needles.
Price Performance
In the past year, HOLX shares have gained 11.3% compared with the industry’s rise of 3.8%.
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #2 (Buy).
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%
HealthEquity, carrying a Zacks Rank #2, has an estimated long-term growth rate of 23.5%. HQY’s earnings surpassed estimates in all the trailing four quarters, with an average of 13%.
HealthEquity have gained 0.6% against the industry’s 5.2% decline in the past year.
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Hologic (HOLX) to Boost Breast Imaging Modality With New Pact
Hologic Inc. (HOLX - Free Report) recently entered into an international collaboration with Bayer (BAYRY - Free Report) to offer contrast-enhanced mammography (CEM) solutions. The partnership will enhance the detection of breast cancer for women in multiple countries across the European, Canadian and Asia Pacific regions.
The recent move will fortify Hologic’s Breast Health Solutions
About CEM
CEM is a highly sensitive and relatively low-cost breast imaging modality that combines digital mammography with the administration of a contrast agent to support breast cancer diagnosis and guide treatment decisions.
The World Health Organisation (WHO) estimates that 2.3 million women will be diagnosed with breast cancer in 2020, and there will be 685,000 fatalities worldwide. A growing number of reputable scientific studies support the effectiveness of CEM as a mammography supplement. It can be carried out as part of routine clinical practice and employed in various therapeutic contexts, such as preoperative assessment of the severity of the disease or inconclusive results from earlier imaging techniques.
Strategic Implications
The collaboration combines the industry-leading technology of the two firms (Hologic mammography gantries and Bayer CEM-approved injection systems) to make it possible to administer contrast material during a mammogram. With the new partnership, Hologic and Bayer expect to provide radiologists and their teams with the best possible assistance by offering a complete product package and the practical training required to integrate CEM into their facility's workflow.
Per Hologic management, contrast-enhanced mammography has drawn more attention in the past few years as a potential supplementary diagnostic tool. Through this collaboration with Bayer, physicians everywhere can include CEM in their workflows for diagnosing breast cancer.
Breast cancer is the most common cancer globally, touching millions of women and the people they love worldwide. Making accurate and prompt detections is vital to enhance patient outcomes and save lives. The companies are thrilled to work together to provide a holistic solution to their clients and broaden access to a developing breast imaging modality.
Industry Prospects
Per a report by Grand View Research, the global breast imaging market size was valued at $4.7 billion in 2022 and is projected to expand at a CAGR of 8.6% by2030. Factors such as the rising prevalence of breast cancer, technological breakthroughs in breast imaging, and investment from several organizations in breast cancer screening programs drive the market.
Recent Developments Within Breast Health
Hologic has been making impressive progress in its Breast Health arm lately, leveraging its strategic expansion efforts to diversify business across the patient continuum of care.
In the third quarter of fiscal 2023, the Breast Health arm registered strong growth primarily driven by increased volumes of digital mammography systems, primarily 3D Dimensions systems and related workstation and workflow products, including software. Further, increased Trident systems unit sales and higher Faxitron breast-conserving surgery products aided growth. The increase in volume was driven by the improvement in supply chain constraints related to electronic components, primarily semiconductor chips. The company is also witnessing increased sales of its interventional breast solutions products, driven by Brevera systems and related needles.
Price Performance
In the past year, HOLX shares have gained 11.3% compared with the industry’s rise of 3.8%.
Zacks Rank and Key Picks
Hologic currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) and HealthEquity, Inc. (HQY - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #2 (Buy).
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%
HealthEquity, carrying a Zacks Rank #2, has an estimated long-term growth rate of 23.5%. HQY’s earnings surpassed estimates in all the trailing four quarters, with an average of 13%.
HealthEquity have gained 0.6% against the industry’s 5.2% decline in the past year.