Private equity firms Blackstone and TPG are exploring the sale of Hologic’s surgical division in a deal that could value the business at more than $4bn, according to a report by the Financial Times.
The report cites unnamed people familiar with the matter as highlighting that the firms are working with financial advisers to market the unit, which develops surgical technologies used by gynaecologists.
The proposed disposal follows Blackstone and TPG’s $18.3bn acquisition of medical technology company Hologic, which was announced in 2025 and completed in April 2026. The buyout, financed with a combination of cash and debt, ranks among the largest private equity acquisitions in the medical device sector.
According to the report, proceeds from a sale of the surgical business would be used to reduce debt incurred in the buyout and return capital to investors.
The move comes as private equity firms increasingly look for liquidity options amid a more challenging financing environment. Pressure in private credit markets has prompted sponsors to seek asset sales and other strategies to generate cash distributions for investors.
The Financial Times also noted that Blackstone has recently faced elevated redemption requests in its private credit business, leading the firm to limit withdrawals from one of its flagship private credit funds.
