Hologic (HOLX) develops and supplies premium diagnostics products, medical imaging systems and surgical products with an emphasis on women’s health. In March 2017 the company acquired Cynosure, a developer of an array of light-based aesthetics and medical treatment systems, for about $1.7 billion. Cynosure represents the company’s Medical Aesthetics segment and operates as a separate business unit. Hologic’s five business segments include Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical and Skeletal Health.

Breast Health

Breast Health products include a broad portfolio of breast imaging and related products and accessories, including digital mammography systems, computer-aided detection, or CAD, for mammography and minimally invasive breast biopsy devices, breast biopsy site markers, and breast biopsy guidance systems. Hologics’s most advanced breast imaging platform, Dimensions, utilizes tomosynthesis to produce 3D images that show multiple contiguous slice images of the breast, which the company refers to as the Genius 3D Mamography exam, as well as conventional 2D digital mammography images.

Medical Aesthetics

Medical Aesthetics offers a portfolio of treatment systems including Sculpsure, PicoSure, MonaLisa Touch, and Tempsure that enable plastic surgeons, dermatologists and others to perform non-invasive and minimally invasive procedures to remove hair, treat pigment lesions, remove tattoos, revitalize the skin, reduce fat through laser lipolysis, reduce cellulite, and improve gynecologic health, among others.

HOLX’s quarterly revenue growth was dismal, but EBITDA growth was solid. Medical Aesthetics drove the lion’s share of EBITDA growth. A competing drug in late-stage clinical trials could disrupt the $15B aesthetics space, and threaten HOLX. Read more:

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