Restructuring Charges

12 Months Ended

Sep. 27, 2025

Restructuring and Related Activities [Abstract]

The Company evaluates its operations for opportunities to improve operational effectiveness and efficiency, including facility and operations consolidation, and to better align expenses with revenues. As a result of these assessments, the Company has undertaken various restructuring actions which are described below. The following table displays charges taken related to restructuring actions in fiscal 2025, 2024 and 2023 and a rollforward of the charges to the accrued balances as of September 27, 2025:


	Fiscal 2025 Actions		Fiscal 2024 Actions		Fiscal 2023 Actions		Other		Total
Restructuring Charges







Fiscal 2023 charges:
Workforce reductions	$	—	$	—	$	5.5	$	6.0	$	11.5
Other costs	—		—		—		0.5		0.5

Fiscal 2023 restructuring charges	$	—	$	—	$	5.5	$	6.5	$	12.0
Fiscal 2024 charges:
Lease asset impairment charge	$	—	$	12.5	$	—	$	—	$	12.5
Accelerated depreciation expense	—		7.2		—		—		7.2
Workforce reductions	—		15.8		—		3.9		19.7
Other costs	—		1.2		—		0.5		1.7
Fiscal 2024 restructuring charges	$	—	$	36.7	$	—	$	4.4	$	41.1
Fiscal 2025 charges:


Workforce reductions	$	20.9	$	3.1	$	—	$	1.4	$	25.4
Facility closure and other costs	1.1		0.3		—		1.8		3.2
Fiscal 2025 restructuring charges	$	22.0	$	3.4	$	—	$	3.2	$	28.6


	Fiscal 2025 Actions		Fiscal 2024 Actions		Fiscal 2023 Actions		Other		Total
Rollforward of Accrued Restructuring
Balance as of September 24, 2022	$	—	$	—	$	—	$	3.1	$	3.1

Fiscal 2023 restructuring charges	$	—	$	—	$	5.5	$	6.5	$	12.0

Severance payments	—		—		(3.2)		(2.9)		(6.1)

Balance as of September 30, 2023	$	—	$	—	$	2.3	$	6.7	$	9.0

Fiscal 2024 restructuring charges	$	—	$	36.7	$	—	$	4.4	$	41.1
Non-cash impairment charge	—		(12.5)		—		—		(12.5)
Non-cash accelerated depreciation charge	—		(7.2)		—		—		(7.2)
Severance payments	—		(11.5)		(2.0)		(4.9)		(18.4)

Balance as of September 28, 2024	$	—	$	5.5	$	0.3	$	6.2	$	12.0

Fiscal 2025 restructuring charges	$	22.0	$	3.4	$	—	$	3.2	$	28.6


Non-cash accelerated depreciation and disposal charge	(0.7)		—		—		—		(0.7)
Severance payments	(12.2)		(7.4)		(0.1)		(6.3)		(26.0)
Other payments and adjustments	0.4		(0.9)		—		(2.7)		(3.2)
Balance as of September 27, 2025	$	9.5	$	0.6	$	0.2	$	0.4	$	10.7

Fiscal 2025 Actions

During fiscal 2025, the Company decided to shut down its manufacturing operations at its Manchester, England location, which manufactures certain molecular diagnostics products. These assays are also manufactured at the Company’s San Diego, California facility. In connection with this plan, the Company will terminate the manufacturing employees at the Manchester location, totaling 139, in phases. During the fourth quarter of fiscal 2025, the Company finalized its negotiations with the Works Council and communicated the severance benefits to the affected employees. The severance charges will be recorded pursuant to ASC 712, Compensation-Nonretirement Postemployment Benefits (ASC 712), for minimum statutory benefits, and for benefits in excess of statutory requirements, including retention, pursuant to ASC 420, Exit of Disposal Cost Obligations (ASC 420), which will be recognized ratably over the service period to obtain such benefits. The Company has estimated the total severance charges will be approximately $6.0 million. As a result, the Company recorded severance charges of $3.2 million in fiscal 2025. As a result of its decision to close the facility, the Company evaluated whether the related fixed assets were impaired concluding no impairment existed, but that for those assets that would not be transferred to San Diego, their estimated useful lives should be shortened. Accordingly, the Company recorded accelerated depreciation of $9.8 million, of which $9.1 million was primarily recorded to cost of product revenues. This action is expected to be completed in the first half of calendar 2026.

During the fourth quarter of fiscal 2025, the Company decided to reorganize certain departments and reduce costs resulting in the termination of 118 employees primarily in Diagnostics research and development, Breast Heath sales and service and Surgical research and development. The Company has estimated the total cost for these actions will be approximately $8.1 million. During the fourth quarter of fiscal 2025, the Company recorded severance benefit charges of $6.8 million pursuant to ASC 420 and ASC 712, depending on the employee and nature of severance benefit. The majority of these actions were completed within the fourth quarter of fiscal 2025, but the Surgical research and development action is estimated to be completed by the first half of fiscal 2027.

During the third quarter of fiscal 2025, the Company decided to reorganize and reduce costs in China resulting in the termination of 89 employees, primarily in sales, across various divisions. As a result, the Company recorded $4.3 million for severance benefits during the third quarter of fiscal 2025 pursuant to ASC 420 and ASC 712. This action was completed within the third quarter of fiscal 2025.

During the second quarter of fiscal 2025, the Company decided to reorganize certain departments and reduce costs resulting in the termination of 50 employees in the Breast Health and Surgical divisions and Corporate functions in the U.S. across multiple departments. As a result, the Company recorded $5.0 million for severance benefits during the second quarter of fiscal 2025 pursuant to ASC 420 and ASC 712, depending on the employee and nature of severance benefit. These actions were completed within the second quarter of fiscal 2025.

Fiscal 2024 Actions

During the first quarter of fiscal 2024, the Company further refined its strategy for the Mobidiag business, which is within the Diagnostics reportable segment. The strategy change included the decision to discontinue the manufacture and sale of certain products, closure of its facilities in Finland and France, and to transfer the development activities and operations to the Company’s San Diego, California location. As such, the Company determined certain fixed assets lives should be shortened and that lease assets were impaired at the affected facilities and recorded accelerated depreciation of $7.2 million and a lease asset impairment charge of $12.5 million. In connection with this plan, the Company finalized its decision to terminate the employees at these locations, totaling 190. The Company initiated discussions with the respective Works Councils at the end of the first quarter of fiscal 2024. In addition, the Company recorded the minimum statutory severance benefit for the employees located in France of $1.8 million pursuant to ASC 712, at that time. During the second quarter of fiscal 2024, the Company finalized its negotiations with the respective Works Councils and communicated the termination and related severance benefits to the affected employees. The majority of the severance benefits were recorded pursuant to ASC 420, which requires the severance benefits to be recognized ratably over the service period to obtain such benefits as the employees ceased employment in phases. The Company recorded total severance charges of $3.4 million and $13.0 million in fiscal 2025 and 2024, respectively. This action was completed in the third quarter of fiscal 2025 and the total severance charges, including accelerated stock compensation, were $16.4 million.

During fiscal 2024, the Company made various decisions to contain costs and to terminate approximately 34 employees primarily in Breast Health and Diagnostics, within sales, marketing and research and development. The Company recorded $3.9 million for severance benefits under these actions pursuant to ASC 420. These actions were completed as of September 28, 2024.

Fiscal 2023 and Other Prior Actions

During fiscal 2023, the Company made various decisions to terminate certain employees across all divisions in multiple departments. As a result, during fiscal 2023, the Company recorded $9.4 million, primarily for severance benefits under these actions. The charges were recorded pursuant to ASC 712 and ASC 420 depending on the employee and nature of the severance benefit. These actions were completed as of the end of fiscal 2023.

During the first quarter of fiscal 2022, the Company finalized its decision to close its Danbury, Connecticut facility where it manufactured its Breast Health capital equipment products. The manufacturing of the Breast Health capital equipment products and all other support services were transferred to the Company’s Newark, Delaware facility. This action and related transition of manufacturing was completed in the first quarter of fiscal 2025. In addition, research and development, sales and services support and administrative functions were transferred to the Company’s Newark, Delaware and Marlborough, Massachusetts facilities. The employees were notified of the closure during the first quarter of fiscal 2022, and the majority of employees located in Danbury were given the option to relocate to the new locations. The Company terminated approximately 117 employees and recorded severance benefits ratably over the required service period pursuant to ASC 420. As a result, the Company recorded severance and benefits charges of $1.4 million, $3.9 million, and $2.1 million during fiscal 2025, 2024, and 2023, respectively. Total severance charges, including retention, relocation and outplacement costs, were $9.0 million. In addition, the Company recorded $1.8 million of site closure costs during the fiscal year ended September 27, 2025.