Agilent Buys Medical Instruments Maker Biocare for $950 Million

Agilent Technologies Inc. agreed to acquire privately held Biocare Medical, which makes instruments and materials used in cancer research, in an all-cash transaction valued at $950 million.

Biocare will become part of the Agilent Life Sciences and Diagnostics Markets Group, according to a statement reviewed by Bloomberg News. The deal is expected to be accretive earnings per share about 12 months after it closes, and will “accelerate innovation and support long-term value creation for our shareholders,” Agilent Chief Executive Officer Padraig McDonnell said in the statement.

With more than 300 specialized antibodies, Biocare, based in the San Francisco Bay ...