Massachusetts-based Hologic, a women’s health medtech company, has reached a definitive agreement to acquire Mobidiag, a Finnish-French molecular diagnostics maker, for approximately $795 million.

As part of the deal, Hologic will obtain Mobidiag’s polymerase chain reaction (PCR)-based tests for acute care conditions that include gastrointestinal and respiratory infections, antimicrobial resistance management and healthcare-associated infections

The acquisition, which includes a $714 million cash payment and $81 million in net debt, is expected to close early in the fourth quarter of 2021 following regulatory approvals.