Agilent Technologies (NYSE:A) announced Monday that it has agreed to acquire privately held clinical pathology company Biocare Medical in an all-cash transaction valued at $950 million.
The life sciences company said it will purchase California-based Biocare Medical from private equity firms Excellere Partners and GHO Capital Partners, with the transaction expected to close by the fourth quarter of Agilent’s fiscal year 2026.
Following completion of the deal, Biocare Medical will be integrated into Agilent’s Life Sciences and Diagnostics Markets division.
Biocare’s product lineup includes integrated tissue diagnostic solutions used in the detection of cancer and infectious diseases. According to its website, the company serves a range of customers including government and military laboratories.
Agilent, which has a market capitalization of about $33.38 billion based on LSEG data, reported first-quarter results in February that broadly matched analyst expectations, indicating steady demand for its medical instruments and laboratory equipment.