Agilent Technologies recently announced a definitive agreement for the Agilent Biocare acquisition. They will purchase Biocare Medical for $950 million in cash. Biocare leads the market in clinical and research pathology solutions. Consequently, this deal expands Agilent’s existing cancer diagnostics portfolio.
Biocare specializes in immunohistochemistry and molecular pathology. Since 2021, the company has seen double-digit revenue growth. Furthermore, it generated over $90 million in 2025. This acquisition strengthens Agilent’s presence in the clinical lab space.
“The acquisition by Agilent is an exciting milestone for Biocare,” said Luis de Luzuriaga, CEO of Biocare. “By joining Agilent and combining our complementary capabilities in cancer diagnostics, we will expand our operational scale, accelerate innovation, and enhance the level of service we provide to customers and partners, ultimately benefiting the patients we serve. After years of significant progress, this is the right time to move forward with new ownership aligned with our commitment to product quality, clinical impact, and value creation. I would like to thank our investors, Excellere Partners and GHO Capital, whose support and counsel have been instrumental in building Biocare into the company it is today.”
Additionally, the deal includes an investor group led by Excellere Partners. GHO Capital Partners also participated in the sale. These firms helped Biocare become a global innovator in IHC solutions. Now, Agilent will leverage its global reach to unlock more market access.
“The acquisition of Biocare enhances Agilent’s pathology portfolio and reflects our strategy to drive long-term growth through customer-centric innovation and disciplined capital allocation,” said Agilent President and CEO Padraig McDonnell. “Together, this complementary combination will enable us to better serve our valued pathology customers across clinical and research settings, accelerate innovation, and support long-term value creation for our shareholders.”
Moreover, Agilent expects the deal to boost its top-line growth. It should also improve the non-instrument revenue mix. The company anticipates profit gains within the first year of ownership.
In a joint statement, Ryan Glaws and Mike Mortimer, Managing Partners at Excellere Partners and GHO Capital, respectively, said, “Working closely with Luis and the Biocare management team, we have been proud to support their significant growth and success by applying our tried and tested growth playbook and leveraging our deep expertise and network in life science tools and diagnostics to build the company into the successful global business it is today. With its exceptional team and strengthened capabilities, Biocare has developed into a recognized leading innovator in IHC solutions, improving the diagnosis and treatment of patients. As Biocare continues its growth trajectory, we are pleased to have found the right partner in Agilent, one that can utilize its global reach and resources to unlock even greater market access, enhanced customer support, and accelerated innovation for Biocare’s customers worldwide.”
Agilent expects the transaction to close by the fourth fiscal quarter of 2026. However, it still requires standard regulatory approvals. Afterward, Biocare will join Agilent’s Life Sciences and Diagnostics Markets Group. This Agilent Biocare acquisition marks a significant shift in the pathology market.
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News Source: Businesswire.com
