GYN Surgical business
In the fiscal third quarter, Hologic (HOLX) reported revenues of ~$107.7 million for its GYN Surgical segment. This is a YoY (year-over-year) rise of 0.3% on a constant currency basis. Hologic expects its GYN Surgical business to witness significant improvement in the fiscal fourth quarter.
This segment reverted to growth in the fiscal third quarter, after reporting YoY revenue declines in the previous two quarters. This performance was mainly driven by the stabilization of sales of the NovaSure system, which is used to treat abnormal uterine bleeding.
To advance the company’s position in the women’s health sector, Hologic’s leadership team is focusing on several initiatives. These actions include allocating more resources to developing the endometrial ablation area, changing the culture of the sales team, and creating awareness among physicians and patients about the company’s products.
In the fiscal third quarter, NovaSure witnessed a YoY revenue decline of 7.6%. However, this rate of decline in its revenues was lower than the rate witnessed in previous quarters. Hologic’s surgical system for treating polyps and fibroids, MyoSure, reported YoY revenue growth of ~9.6% in the fiscal third quarter.
Patent infringement litigation
On July 27, a Delaware jury awarded Hologic $4.8 million in damages from Minerva related to the latter’s infringement of NovaSure’s two patents. Hologic aims to secure a permanent injunction from the court and stop sales of Minerva’s infringing device in the United States.
Skeletal Health growth trends
In the fiscal third quarter, Hologic reported revenues of ~$22.5 million for its skeletal health business, which is a YoY rise of ~2.1 % on a constant currency basis. This performance was mainly driven by a robust uptake of the company’s bone density systems and strong performance in international markets.
In the final article in this series, we’ll discuss the growth trends for Hologic’s Medical Aesthetics segment.