Agilent Technologies is buying up the digital pathology software company Proscia in an all-cash transaction valued at $240 million with an additional $30 million on the cards for future performance milestones.
For its money Agilent gets hold of Concentriq, Proscia's software platform, which works as a central operating layer for digital pathology, supporting clinical and life-sciences customers across the U.S. and Europe.
Customers use the tech to manage images, data, and workflows and the platform currently serves more than 4,000 laboratories, hospitals, and pharma companies.
While other pathology software companies are mainly focused on diagnosing specific diseases, such as cancer, Concentriq is designed for broader use that covers a range of clinical diagnosis and life-sciences research, with support for third-party AI applications.
This comes after Agilent and Proscia penned a a multi-year distribution pact back in September 2022 to offer a “comprehensive digital diagnostic-pathology system” the paid said at the time.
"Digital pathology is quickly becoming the foundation for pathology data generation, analysis, and application across biopharmaceutical research, clinical development, and diagnostics, and our acquisition of Proscia meaningfully expands our presence in this fast-growing market," said Agilent President and CEO Padraig McDonnell, in a statement.
"The acquisition establishes an Agilent platform for scientific intelligence in tissue-based precision medicine, connecting data generation with AI-based interpretation in a workflow that supports biomarker research through routine clinical use. With Proscia's leading platform and talented team, we will be better equipped to help laboratories and biopharma customers manage and derive insights from pathology data."