Agilent Technologies has agreed to acquire Biocare Medical, a biotech manufacturer specializing in clinical pathology, in an all-cash transaction valued at $950 million.
Biocare is a global pathology antibody provider, serving customers with a portfolio of immunohistochemistry (IHC), in situ hybridization (ISH) and fluorescence in situ hybridization (FISH) solutions.
Agilent said the deal expands its pathology portfolio with the addition of Biocare’s complementary IHC antibody, reagent and instrument products. It also said that by combining its global operations with Biocare’s strong U.S. commercial presence, the transaction creates a stronger platform to better serve a broader base of research and clinical customers.
The companies said the deal is expected to be accretive to Agilent’s top-line growth rate, margin profile and non-instrument revenue mix in the first year.
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.
