Agilent Technologies Inc (NYSE:A), a provider of analytical and clinical laboratory technologies, said on Monday that it has agreed to acquire clinical pathology specialist Biocare Medical from an investor group led by Excellere Partners and GHO Capital Partners LLP in an all-cash transaction valued at USD950m.

Biocare provides immunohistochemistry (IHC), in situ hybridisation (ISH) and fluorescence in situ hybridisation (FISH) solutions for clinical and research pathology applications. The company offers more than 300 specialised antibodies and has recorded double-digit annual revenue and profit growth since 2021, generating more than USD90m in revenue in 2025.

Agilent said that this acquisition will expand its pathology portfolio by adding complementary antibody, reagent, and instrument offerings. The combined platform is expected to strengthen innovation capabilities and broaden service to clinical and research pathology laboratories. The transaction is projected to improve Agilent's revenue growth rate, margin profile, and non-instrument revenue mix in the first year, with earnings per share accretion anticipated about 12 months after closing.

The deal is subject to regulatory approvals and customary conditions and is expected to close by Agilent's fourth fiscal quarter of 2026, after which Biocare will join the company's Life Sciences and Diagnostics Markets Group.