Agilent Completes Acquisition of Resolution Bioscience, Expands Role in Fast-growing NGS Market for Precision Oncology
Agilent Technologies, Inc. (NYSE: A) has successfully acquired Resolution Bioscience, enhancing its capabilities in next-generation sequencing (NGS)-based cancer diagnostics. This acquisition expands Agilent's precision oncology solutions, particularly in liquid biopsy-based diagnostics, positioning the company to meet growing market demands. Agilent's CEO, Mike McMullen, emphasized the strategic importance of this addition, which aims to broaden access to NGS-based testing globally. The deal potentially boosts growth in Agilent's diagnostics and genomics sectors.
- Acquisition of Resolution Bioscience enhances Agilent's NGS-based cancer diagnostics capabilities.
- Strengthens Agilent's position in the precision medicine market with innovative diagnostic technology.
- Expansion of offerings to biopharma and clinical diagnostics customers supports growth opportunities.
- Integration challenges may arise from merging Resolution Bioscience's operations.
- Potential risks in attracting and retaining key employees post-acquisition.
Agilent Technologies, Inc. (NYSE: A) today announced it has completed the acquisition of Resolution Bioscience, a leader in the development and commercialization of next-generation sequencing (NGS)-based precision oncology solutions.
Resolution Bioscience complements and expands Agilent’s capabilities in NGS-based cancer diagnostics and provides the company with innovative technology to further serve the needs of the fast-growing precision medicine market. The addition of Resolution Bioscience’s liquid biopsy-based diagnostic technologies strengthens Agilent’s offerings to biopharma and clinical diagnostics customers and boosts growth opportunities in the company’s diagnostics and genomics business.
"The Resolution Bioscience team and powerful technology are strategic and important additions to Agilent’s growing business in precision oncology solutions,” said Mike McMullen, Agilent president and CEO. “This also accelerates our work to more broadly deliver precision oncology testing for patients worldwide with NGS-based diagnostic kits. We’re excited to have Resolution Bioscience joining with us to expand our work in the fight against cancer."
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in the life-sciences, diagnostics, and applied-chemical markets, delivering insight and innovation toward advancing the quality of life. Agilent instruments, software, services, solutions, and people provide trusted answers to customers' most challenging questions. The company generated revenue of
Forward Looking Statements
This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, statements regarding the capabilities and expertise the acquisition brings, the ability to supply industry requirements, acceleration of growth and effect on earnings. These forward-looking statements involve risks and uncertainties that could cause Agilent's results to differ materially from management's current expectations. Such risks and uncertainties include, but are not limited to, the ability to integrate Resolution Bioscience’s operations with Agilent's, retain key employees, meet customer expectations, realize efficiencies from the combined businesses and realize anticipated tax benefits. In addition, other risks that Agilent faces in running its operations include the ability to execute successfully through business cycles; the ability to meet and achieve the benefits of its cost-reduction goals and otherwise successfully adapt its cost structures to continuing changes in business conditions; ongoing competitive, pricing and gross-margin pressures; the risk that our cost-cutting initiatives will impair our ability to develop products and remain competitive and to operate effectively; the impact of geopolitical uncertainties and global economic conditions on our operations, our markets and our ability to conduct business; the ability to improve asset performance to adapt to changes in demand; the ability of our supply chain to adapt to changes in demand; the ability to successfully introduce new products at the right time, price and mix; the ability of Agilent to successfully integrate recent acquisitions; the ability of Agilent to successfully comply with certain complex regulations; and other risks detailed in Agilent's filings with the Securities and Exchange Commission, including our quarterly report on Form 10-Q for the quarter ended Jan. 31, 2021. Forward-looking statements are based on the beliefs and assumptions of Agilent's management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement.
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