Agilent Technologies agreed on 9 March to buy Biocare Medical, a supplier of clinical pathology antibodies and staining systems, for $950m in cash.
Why Agilent Technologies Inc. is buying Biocare Medical
Agilent said Biocare's immunohistochemistry antibodies, reagents and instruments complement its own pathology offering, and that combining its global operations with Biocare's strong US commercial presence would speed up the development of new diagnostic antibodies.
Deal terms and financing
The all-cash deal was expected to be accretive to Agilent's revenue growth, margins and non-instrument revenue mix in the first year, and to earnings per share about 12 months after closing. Biocare has posted double-digit annual revenue and profit growth since 2021.
Regulatory approvals and timing
The transaction was subject to regulatory approvals and was expected to close by Agilent's fourth fiscal quarter of 2026. Agilent announced completion on 25 June 2026.
Market context
Biocare's portfolio covers immunohistochemistry, in situ hybridisation and fluorescence in situ hybridisation tests used mainly in oncology. Excellere Partners and GHO Capital are private equity investors specialising in healthcare and life-science tools.
