Agilent Technologies to Acquire Biocare Medical for $950 Million
Agilent Technologies announced Tuesday it has entered into a definitive agreement to acquire Biocare Medical, a global provider of clinical pathology solutions, for approximately $950 million in cash. The deal is expected to expand Agilent's pathology portfolio.
Agilent Technologies has agreed to acquire Biocare Medical, a company specializing in clinical and research pathology solutions, for approximately $950 million in an all-cash transaction. The acquisition is poised to enhance Agilent's offerings in areas such as oncology and broader clinical pathology.
Biocare Medical is recognized for its immunohistochemistry (IHC), in situ hybridization (ISH), and fluorescence in situ hybridization (FISH) solutions. The company boasts a portfolio of over 300 specialized antibodies and has experienced substantial growth, including double-digit revenue and profit increases annually since 2021, with revenues exceeding $90 million in 2025. Agilent anticipates the acquisition will contribute to its top-line growth and improve its profit margins starting in the first year.
Padraig McDonnell, President and CEO of Agilent, stated that the acquisition aligns with the company's strategy to drive long-term growth through customer-focused innovation and careful capital allocation. The combined entities aim to accelerate innovation and provide improved service to pathology customers in both clinical and research settings.
Luis de Luzuriaga, CEO of Biocare Medical, described the acquisition as an exciting milestone. He believes that joining Agilent will provide the necessary scale and resources to speed up innovation and enhance customer service, ultimately benefiting patients. He sees this as the opportune moment to transition to new ownership that shares Biocare's commitment to product quality and clinical impact.