California-based Agilent Technologies, an analytical and clinical laboratory technologies company, recently entered into a definitive agreement to purchase Philadelphia-based Proscia, a digital pathology software provider, for $240 million in cash and up to an additional $30 million based on achieving future performance milestones.
The companies previously entered into a multi-year distribution agreement in 2022 to offer a comprehensive digital diagnostic-pathology system. The purchase of Proscia will provide Agilent with multiple strategic and financial benefits including strengthening Agilent’s existing leadership in pathology instrumentation and reagents, combining AI-enabled synergies with Agilent’s companion diagnostics business, and adding a high-growth, high-margin software business to Agilent’s pathology portfolio.
“This agreement with Agilent marks an exciting milestone for Proscia and reflects the strength of the platform our team has built,” David West, Proscia co-founder and CEO, said. “Agilent shares our vision for advancing pathology through open, digital, and AI-enabled solutions. Together, we can accelerate innovation while continuing to provide customers with the flexibility they need across clinical and life-sciences workflows. I am grateful to the entire Proscia team, whose dedication made this milestone possible, and look forward to building on our work as part of Agilent.”
The deal is expected to close early in Agilent’s fiscal year 2027, subject to customary closing conditions.