By Sahil Pandey
March 9 (Reuters) - Life sciences firm Agilent Technologies said on Monday that it will acquire privately held clinical pathology firm Biocare Medical in an all-cash deal valued at $950 million, sending its shares up about 1% in the premarket trading.
Agilent said Biocare's tissue diagnostic products for cancer and infectious diseases will be integrated into its Life Sciences and Diagnostics Markets unit, expecting the move to lift revenue growth and profitability within the first year.
The deal fits neatly with Agilent's Dako pathology business, which makes antibodies, instruments and software, among other products, said Evercore ISI analyst Vijay Kumar.
Leerink Partners' Puneet Souda said Biocare's staining machines and catalog of more than 300 antibodies would strengthen Agilent's capabilities that help pathologists identify cancer and infections in tissue slides.
Biocare's portfolio would also help Agilent compete better against products from Danaher's Leica unit and Roche's Ventana division, Souda added.
The laboratory equipment maker will acquire the California-headquartered Biocare from Excellere Partners and GHO Capital Partners, and the deal is expected to close by the fourth fiscal quarter of 2026.
Agilent had reported first-quarter results in February that were largely in line with estimates, signaling stable demand for its medical tools and other equipment.
(Reporting by Sahil Pandey and Gursimran Kaur in Bengaluru; Editing by Sherry Jacob-Phillips, Rashmi Aich and Vijay Kishore)
