Agilent Technologies Inc. (NYSE:A) stock edged higher in Wednesday's premarket trading after the company announced a deal to acquire digital pathology software provider Proscia for up to $270 million, expanding its presence in artificial intelligence-powered diagnostics.
The company announced Tuesday that it had entered into a definitive agreement to acquire Proscia for $240 million in cash at closing, with an additional $30 million tied to future performance milestones.
Agilent reported $1.76 billion in cash and cash equivalents as of July 31, 2026.
Expanding AI-Powered Pathology Capabilities
Proscia develops software that helps laboratories, hospitals and pharmaceutical companies manage digital pathology images, data and workflows.
Its platform connects laboratory equipment, imaging systems and AI tools, allowing researchers and clinicians to analyze tissue samples more efficiently.
The company serves more than 4,000 laboratories, hospitals and clinics, along with 16 of the world's 20 largest pharmaceutical companies. Its trailing 12-month revenue exceeds $18 million.
Proscia's platform also holds FDA 510(k) clearance for primary diagnosis.
Agilent President and CEO Padraig McDonnell said the acquisition would strengthen the company's position in digital pathology and help customers use AI to interpret tissue-based data.
The company expects the combination to support drug discovery, biomarker research and companion diagnostics, which help identify patients who may benefit from specific treatments.
Building on Existing Partnerships
Agilent and Proscia established a multiyear distribution partnership in September 2022 to offer digital diagnostic pathology solutions.
The acquisition also follows Agilent's recent transaction with Biocare Medical, further expanding its pathology business.
By combining Proscia's software with its existing instruments and diagnostic products, Agilent aims to offer more integrated laboratory workflows.
Additionally, Proscia's recurring-revenue software business is expected to strengthen Agilent's long-term growth profile and expand its higher-margin offerings.
Proscia co-founder and CEO David West said the combination would accelerate innovation while preserving flexibility for clinical and life sciences customers.
Deal Expected to Close in Fiscal 2027
The transaction remains subject to customary closing conditions and is expected to close early in Agilent's fiscal 2027.
Following completion, Proscia will join Agilent's Life Sciences and Diagnostics Markets Group.
A Price Action: Agilent Technologies shares were trading up 0.80% at $172.97 during premarket trading on Wednesday. The stock is approaching its 52-week high of $177.05, according to market data.
