Hologic hires former Baxter International chief as next CEO
Hologic has hired the former CEO of Baxter International as its next chief executive, on the same day the breast imaging firm completed its sale for $18.3 billion.
José “Joe” E. Almeida is taking over the top role at Hologic effective Tuesday, replacing retiring longtime leader Steve MacMillan. Almeida became CEO of Deerfield, Illinois-based Baxter in January 2016, serving nearly 10 years before abruptly retiring in February 2025.
During his time at the Fortune 500 global healthcare company—which makes hospital supplies, dialysis products and surgical technology—he helped reposition Baxter. This included a focus on operational improvement, portfolio changes and product innovation, Hologic noted.
Almeida takes over as the Marlborough, Massachusetts-based maker of mammography systems, AI-powered imaging analytics products and biopsy systems ceases trading on the stock exchange. Hologic as of Tuesday is a privately held company, co-owned by two private equity firms, which are paying approximately $79 per share.
“I am thrilled to be joining at such a pivotal moment,” Almeida said in a statement April 7. “With the backing of Blackstone and TPG, we are poised to take the organization to new heights, with a renewed sense of purpose and greater resources to invest in innovation…”
Before Baxter, Almeida served as president and CEO of Coviden—a maker of specialized medical devices for surgical, vascular and respiratory care—from 2012 to 2015. His role there ended after Medtronic later agreed to buy the company for $42.9 billion in 2014. He also has held senior leadership roles at Tyco Healthcare, among other organizations. A native of Brazil, Almeida received his degree in mechanical engineering from the Mauá Institute of Technology, São Paulo.
“We are thrilled to partner with Joe Almeida—an exceptional medical technology leader—alongside Hologic’s talented team and TPG to drive the company’s next phase of growth and innovation,” Ram Jagannath, senior managing director and global head of healthcare for Blackstone, said in a statement.
Hologic stockholders previously approved the merger deal in February, receiving approximately $76 per share in cash. They’ll be eligible for up to another $3 per share, contingent on Hologic’s Breast Health business achieving certain revenue goals in 2026 and 2027, according to the announcement.
Hologic officially ceased trading on Tuesday, de-listing from the Nasdaq. As part of the transition, nine members of its board of directors have resigned, the Boston Business Journal reports.
“Investing behind healthcare innovation has been a core thematic focus for TPG over decades, and we have long admired Hologic as an industry leader,” added Alex Albert, co-head of healthcare for TPG Capital. “Under Joe’s experienced and proven leadership, we are proud to partner with Hologic and Blackstone to support clinical excellence and deliver meaningful impact for patients.”
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.