Throwing cash around, Agilent to acquire Proscia for up to $270M in cash
Landon Capital News
Agilent Technologies (A) has entered into a definitive agreement to acquire Proscia, a digital pathology software provider, in an all-cash transaction valued at $240 million at closing, with up to an additional $30 million contingent on future performance milestones.
Proscia’s software platform connects slide scanners, laboratory information systems, image-analysis applications, and AI tools into a unified environment. The company serves more than 4,000 laboratories, hospitals, and clinics, as well as 16 of the top 20 pharmaceutical companies. Proscia reported trailing twelve-month revenue exceeding $18 million and holds FDA 510(k) clearance for primary diagnosis.
Agilent and Proscia had previously entered into a multi-year distribution agreement in September 2022. The acquisition builds on that existing partnership.
“Digital pathology is quickly becoming the foundation for pathology data generation, analysis, and application across biopharmaceutical research, clinical development, and diagnostics,” said Agilent President and CEO Padraig McDonnell.
David West, co-founder and CEO of Proscia, said the agreement “reflects the strength of the platform our team has built” and that Agilent “shares our vision for advancing pathology through open, digital, and AI-enabled solutions.”
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