Date: Aug 01, 2012 Source: (
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Madison biotech facility expected to close; 179 could lose jobs
Madison's biotechnology industry is headed for another big blow. Read more
With the completion on Wednesday of Hologic's $3.8 billion acquisition of San Diego-based Gen-Probe, the Bedford, Mass. company made it official: It will close Madison subsidiary Third Wave Technologies, ending 130 jobs.
Hologic sent a notice to the state Department of Workforce Development on Wednesday saying job cuts will begin around Sept. 30 and Third Wave will close by Sept. 28, 2014. "We expect that these actions, once taken, will be permanent," said the letter from Holly Lynch, Hologic's vice president for human resources.
Company officials had told investors and research analysts the company expects to save $75 million through the acquisition, mainly from closing the Madison operations, at 502 S. Rosa Road. But the company declined comment, when questioned by a reporter in early July, and emailed employees that it was still exploring its options, including the possibility of shutting the Madison site.
Founded in 1993, Third Wave makes diagnostic tests for conditions such as HPV, human papillomavirus, and cystic fibrosis. Hologic, which makes women's health products, bought Third Wave in 2008.
