Hologic buys BioLucent

Diagnostic imaging systems company Hologic Inc. said Thursday it is buying women's health company BioLucent Inc. for about $70 million.

The purchase price also involves a two-year earn out. The price includes $5 million in cash and $65 million in cash, shares of Hologic, or a combination of both. The earn out would be payable in two annual cash installments not to exceed $15 million. The deal is expected to close by the end of the third quarter.

As part of the deal, BioLucent is spinning off its brachytherapy business into a new company which will remain independent. (AP)