Agilent Technologies will acquire Proscia, a digital pathology software maker, in an all-cash deal worth $240M at closing with up to $30M more tied to milestones.
The Philadelphia company sells the operating layer that sits between slide scanners and the labs that read them. Its software connects imaging hardware, laboratory information systems, analysis tools and AI models in one environment.
A large installed base
Proscia says its platform reaches more than 4,000 laboratories, hospitals and clinics, plus 16 of the top 20 pharmaceutical companies. It reported trailing twelve-month revenue above $18M.
Agilent has been here before. The two firms signed a multi-year distribution agreement in 2022, and Agilent recently acquired Biocare Medical. Buying Proscia turns a partnership into ownership.
The strategic logic
Pathology is shifting from glass slides read under a microscope to digital images that algorithms can analyze. The companies that own both the instruments and the software layer stand to capture more of that transition.
Agilent chief executive Padraig McDonnell framed the deal as building a platform for precision medicine in tissue-based diagnostics.
Proscia will keep serving existing customers, and the acquisition is expected to close subject to the usual conditions. For hospital labs, the near-term question is whether consolidation narrows the vendor-neutral choices they have relied on.
