06:19 AM EDT, 03/09/2026 (MT Newswires) -- Agilent Technologies ( A ) on Monday agreed to acquire clinical pathology firm Biocare Medical from an investor group led by Excellere Partners and GHO Capital Partners in an all-cash deal worth about $950 million.

Agilent ( A ) said the proposed acquisition is expected to strengthen its pathology portfolio and immunohistochemistry offerings. The transaction also expands the medical equipment company's ability to serve a wide range of pathology labs across clinical and research settings, it added.

"The acquisition of Biocare enhances Agilent's ( A ) pathology portfolio and reflects our strategy to drive long-term growth through customer-centric innovation and disciplined capital allocation," Agilent ( A ) Chief Executive Padraig McDonnell said in a statement.

The deal, which requires approval from regulators, is anticipated complete by Agilent's ( A ) fourth quarter of fiscal 2026. Following completion, Biocare will become part of the Agilent ( A ) life sciences and diagnostics markets group.

Agilent ( A ) estimates the transaction to be accretive to its per-share earnings about a year after completion. The deal is also projected to boost the firm's top-line growth rate, margin profile and non-instrument revenue mix in the first year.

Last month, Agilent ( A ) reported fiscal first-quarter adjusted EPS of $1.36, up from $1.31 the year before. Revenue for the quarter was nearly $1.8 billion, representing annual growth of 7%. At the time, the company said it expected adjusted EPS to be in a range of $5.90 to $6.04 for fiscal 2026 and revenue to come in between $7.3 billion and $7.5 billion.

The current consensus on FactSet is for Agilent ( A ) to report non-GAAP EPS of $5.96 and sales of $7.39 billion for the ongoing fiscal year.

"By joining Agilent ( A ) and combining our complementary capabilities in cancer diagnostics, we will expand our operational scale, accelerate innovation and enhance the level of service we provide to customers and partners," Biocare CEO Luis de Luzuriaga said Monday. "After years of significant progress, this is the right time to move forward with new ownership."

Biocare generated more than $90 million in revenue last year, according to Agilent ( A ).