Hologic Elects Wayde McMillan to Board

By Tamara Parker • Saturday, April 05 15:12 • Permanent Link

Hologic, Inc. (NASDAQ: HOLX) has announced the election of Wayde McMillan to its board of directors, effective April 4, 2025. McMillan, who has an extensive financial background in the med-tech industry, was also appointed to the company's audit and finance committee on the same date.

McMillan served as the Chief Financial Officer (CFO) of Solventum Corporation, a carve-out health care company of 3M Company, since 2024. Prior to that, he was the CFO of 3M Company’s health care business group from November 2023. His previous experience includes being the CFO of Insulet Corporation, a medical device company, and holding leadership positions at Medtronic PLC and Covidien PLC, both medical device companies.

Hologic's Chairman, President, and CEO, Steve MacMillan, expressed excitement about McMillan joining the board, citing his extensive financial expertise and deep understanding of the med-tech industry as valuable assets.

In terms of financial performance, Hologic reported its first-quarter fiscal 2025 results on January 29, 2025. The company achieved a revenue of $1.854 billion, representing a 12.7% increase from the prior-year period. Net income for the first quarter of fiscal 2025 was $218.6 million, compared to $164.3 million in the first quarter of fiscal 2024, marking a substantial 33% growth.

Moreover, Hologic's diluted earnings per share (EPS) for the first quarter of fiscal 2025 were $0.85, up from $0.64 in the first quarter of fiscal 2024, reflecting an impressive 32.8% improvement. The company's operating margin also expanded to 35.9% in the first quarter of fiscal 2025, compared to 32.7% in the first quarter of fiscal 2024, demonstrating a significant increase in operational efficiency.

Hologic's strong financial performance and the addition of Wayde McMillan to its board of directors position the company for continued growth and innovation in the medical technology sector. Following these announcements, the company's shares moved -1.3%, and are now trading at a price of $60.86. Check out the company's full 8-K submission here.

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