Biocare Medical Acquisition, Valuation, Funding & Investors

Biocare Medical was acquired by Agilent for $950M in March 2026, a 10.6x multiple on $90M of revenue.

Biocare Medical acquisition price

$950M

Acquired by Agilent · Mar 2026

Biocare Medical revenue at acquisition

$90M

Last twelve months · Mar 2026

Biocare Medical revenue multiple at acquisition

10.6x

EV/Revenue · Mar 2026

Cumulative funding Biocare Medical raised

$85M

across 1 funding round

Biocare Medical Overview

About Biocare Medical

Biocare Medical is a developer of immunohistochemistry (IHC) and in situ hybridization (ISH and FISH) reagents and instruments used in cancer diagnosis and chromosomal profiling. Founded in 1997 and based in California, the company supplies clinical laboratories, research organizations, and pharmaceutical manufacturers worldwide with more than 2,000 product SKUs, including multiplex testing solutions and automated staining platforms such as its ONCORE system. Biocare has expanded its molecular diagnostics portfolio through acquisitions including Empire Genomics and CymoGen Dx, adding FISH probe technology for detecting genomic aberrations in cancer cells.


Founded

1997

HQ

PhilippinesPhilippines

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$90M (Mar 2026)

Valuation

$950M (acquired Mar 2026)

Biocare Medical Acquisition

Biocare Medical was acquired by Agilent for $950M on 8 March 2026.

The acquisition price implies a 10.6x revenue multiple on $90M of revenue.

Before the acquisition Biocare Medical had raised $85M across 1 funding round.

Biocare Medical acquisition details
AcquirerDateTypePriceEV/Revenue
8 Mar 2026Strategic M&A$950M10.6x

Biocare Medical Funding History

Biocare Medical has raised a total of $85M across 1 funding round.

Biocare Medical funding rounds

Biocare Medical funding rounds
DateStageInvestorsRaisedDeal Summary
Aug 2017Undisclosed stageExcellere Partners (lead)$85MBiocare Medical, founded in 1997 and based in Pacheco, California, is a provider of immunohistochemistry (IHC) instrumentation, reagents for IHC and molecular testing, including in situ hybridization (ISH) and fluorescence in situ hybridization (FISH) solutions, serving clinical laboratories, research organizations, and pharmaceutical manufacturers worldwide with over 2,000 unique product SKUs and nearly 2,000 customers. The investment aligned with Excellere's focus on entrepreneurial healthcare businesses, partnering with Biocare's management to enhance product offerings and market presence. Biocare emphasized its 20 years of building innovative products for disease diagnosis and monitoring. Subsequently, in December 2021, there was another private equity round, likely involving GHO Capital Partners alongside Excellere.

Who has invested in Biocare Medical?

1 investor has backed Biocare Medical across its funding rounds, including Excellere Partners.

Lead investors include Excellere Partners.


Biocare Medical Investors

Investors in Biocare Medical by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Biocare Medical

Biocare Medical has acquired 2 companies to date.

Last acquisition by Biocare Medical was on November 22nd 2022. Biocare Medical acquired Empire Genomics for undisclosed valuation.


Latest Acquisitions by Biocare Medical

Empire Genomics
CymoGen Dx
Description
Empire Genomics is a Buffalo, New York-headquartered laboratory specializing in molecular diagnostics for oncology, offering next-generation sequencing, FISH testing, and PCR assays for solid tumors and hematologic malignancies. The CLIA-certified facility processes over 50,000 samples annually, providing actionable insights into biomarkers like EGFR, KRAS, and ALK fusions for precision medicine. Empire partners with hospitals such as Roswell Park Comprehensive Cancer Center and supports clinical trials with custom panels. Founded in 2010, it expanded into liquid biopsy services in 2020.
CymoGen Dx is a New Windsor-based genomic diagnostics firm producing FISH probes for cancer aberration detection in tissue and bone marrow. Incorporated in 2010, it supplies reagents to clinical labs, biopharma, and researchers targeting chromosomal changes in leukemias and solid tumors. Products enable HER2, ALK, and BCR-ABL assessments with high specificity.
HQ CountryUnited StatesUnited States
HQ City
Buffalo, NY
New York City, NY
Deal Date22 Nov 20223 Oct 2014
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Biocare Medical Competitors

Biocare Medical competitors include listed companies like SEEGENE, VCANBIO, Sansure Biotech and Bide Pharmatech Co, and private ones like Wilson Wolf Corporation and AcuityMD.

Public and private companies comparable to Biocare Medical
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SEEGENESouth KoreaSouth KoreaPublicly listed$343M$85M$1.1B2.1x
VCANBIOChinaChinaPublicly listed$217M$44M$1.3B4.3x
Wilson Wolf CorporationUnited StatesSaint Paul, MNPrivate-$55M$1.3B-
Sansure BiotechChinaChinaPublicly listed$245M$48M$1.4B4.1x
AcuityMDUnited StatesBoston, MAPrivate--$955M-
Bide Pharmatech CoChinaChinaPublicly listed$198M$33M$924M3.7x

Biocare Medical Public Comps

Biocare Medical is no longer listed, but its public comps include CeriBell, Bide Pharmatech Co, MedicalSystem Technology, Mani Inc., Shanghai Haohai, Bioventus, CryoPort, Enovis, Staar Surgical and iRadimed.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CeriBell$89M($50M)9.3x7.7x(16.6x)(13.8x)
Bide Pharmatech Co$198M$33M4.0x3.7x24.1x-
MedicalSystem Technology$45M$12M19.7x16.3x73.6x65.4x
Mani Inc.$191M$60M4.0x3.6x12.7x9.6x
Shanghai Haohai$365M$59M1.7x1.7x10.5x10.0x
Bioventus$568M$99M2.0x1.9x11.6x9.5x
CryoPort$176M($2M)4.2x3.9x(355.3x)(1018.9x)
Enovis$2.2B($830M)1.1x1.0x(2.9x)5.7x

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Common questions about Biocare Medical

When was Biocare Medical founded?Biocare Medical was founded in 1997.
Where is Biocare Medical headquartered?Biocare Medical is headquartered in Philippines.
Is Biocare Medical publicly listed?No, Biocare Medical was acquired by Agilent in March 2026.
Who acquired Biocare Medical?Biocare Medical was acquired by Agilent in March 2026.
How much was Biocare Medical acquired for?Biocare Medical was acquired for $950M in March 2026, a 10.6x revenue multiple.
How much funding has Biocare Medical raised?Biocare Medical has raised $85M across 1 funding round.
What was Biocare Medical's last funding round?Biocare Medical's last funding round was a $85M undisclosed-stage round in August 2017, led by Excellere Partners.
Who are Biocare Medical's investors?Biocare Medical's investors include Excellere Partners.
Which companies are comparable to Biocare Medical?Companies comparable to Biocare Medical include SEEGENE, VCANBIO, Wilson Wolf Corporation, Sansure Biotech, AcuityMD and Bide Pharmatech Co.
How many companies has Biocare Medical acquired?Biocare Medical has acquired 2 companies, including Empire Genomics and CymoGen Dx.

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