Hologic to buy maker of medical devices

Hologic Inc., a maker of diagnostic and medical imaging systems, has agreed to acquire medical device maker Cytyc Corp. and create a $10-billion company that focuses exclusively on advanced technology in women’s health, the two companies announced Sunday.

The combination is expected to drive cross-selling across units of the new company, generating more than $75 million in extra revenue within the first three years.

Efficiencies in marketing, purchasing, logistics and shared administrative services are expected to generate $25 million to $30 million in annual cost savings, according to the statement.

The $6.2-billion cash-and-stock transaction was unanimously approved by the companies’ boards of directors and is expected to be completed in the third quarter of 2007, Bedford-based Hologic and Cytyc, based in nearby Marlborough, said in a joint statement.

The combined company will be called Hologic, and Cytyc will become its wholly owned subsidiary.

It will be one of the largest companies in the world that focuses exclusively on technology in women’s health, including screening, diagnostics and therapeutics for breast and cervical cancers, prenatal health, osteoporosis and permanent contraception, the companies said.

The deal is subject to regulatory approval, but company officials said they expected no major hurdles because their products and services do not overlap.

The deal also must be approved by both companies’ shareholders.