Agilent Technologies to acquire Biocare Medical in $950 million transaction to expand pathology portfolio
Agilent Technologies is set to acquire Biocare Medical for $950 million, expanding its pathology offerings with innovative immunohistochemistry, ISH, and FISH solutions to improve patient outcomes and accelerate growth.
Agilent Technologies Inc. announced it has entered into a definitive agreement to acquire Biocare Medical from an investor group led by Excellere Partners and GHO Capital Partners LLP in an all-cash transaction valued at $950 million.
Biocare specializes in high-growth global pathology antibodies, serving customers with a complementary portfolio of immunohistochemistry (IHC), in situ hybridization (ISH) and fluorescence in situ hybridization (FISH) solutions designed to support improved patient health outcomes across oncology and broader clinical pathology. With more than 300 specialized antibodies and a proven R&D capability, Biocare has achieved annual double-digit revenue and profit growth since 2021 and generated over $90 million in revenue in 2025.
The transaction:
Expands Agilent’s pathology portfolio with a highly complementary platform and innovation capabilities.
Unlocks growth through complementary commercial attributes and geographic footprints, while accelerating menu development.
Delivers attractive financial benefits.
The transaction is subject to customary closing conditions, including receipt of regulatory approvals, and is expected to close by no later than Agilent's fourth fiscal quarter of 2026. Upon close, Biocare will become part of the Agilent Life Sciences and Diagnostics Markets Group.
