Excellere Partners and GHO Capital complete sale of Biocare Medical to Agilent Technologies
Denver, CO and London, UK – 25 June 2026: Excellere Partners (“Excellere”), a Denver-based private equity firm specializing in partnering with entrepreneurs and management teams, and GHO Capital Partners LLP (“GHO”), a specialist investor in global healthcare, today announced the completion of the sale of Biocare Medical (“Biocare”), a global leader in immunohistochemistry (IHC), in situ hybridization (ISH) and fluorescence in situ hybridization (FISH) solutions, to Agilent Technologies, Inc. (“Agilent”, NYSE:A).
Under the stewardship of Excellere and GHO, the company delivered annual double-digit revenue and profitability growth, strengthened its core IHC business, expanded into molecular diagnostics through acquisition, and reinforced its executive leadership team. Biocare has since become a recognised specialist in IHC, ISH and FISH, with a high-quality antibody business and strong commercial, regulatory and R&D capabilities.
Agilent’s acquisition of Biocare brings together two businesses with closely aligned strategies in life sciences and diagnostics. The combination is expected to unlock greater market access, enhanced customer support and accelerated innovation for Biocare’s customers worldwide.
In a joint statement, Excellere and GHO said: “This transaction marks a significant milestone for Biocare and a strong outcome for our portfolios. Working closely with Luis and the management team, we applied our growth playbook and deep sector expertise, to help build a company with genuine transatlantic reach and a leading position in IHC solutions. We are delighted to have found the right partner in Agilent to support Biocare’s next phase of growth and are confident that its global reach and resources will deliver even greater value for customers and, ultimately, the patients they serve.”
About Excellere Partners
Excellere Partners is a Denver-based private equity firm with $2.3 billion of committed capital across four funds that specialize in partnering with entrepreneurs and management teams through growth recapitalizations and management buyouts. The firm employs a research-driven, top-down investment strategy and supports its entrepreneurs and management teams with a proprietary value-creation process designed to enhance the corporate and operational infrastructure for scalability and growth. Excellere’s investments are focused on emerging growth companies positioned to benefit from industry consolidation and favorable macroeconomic and demographic trends. The Firm’s targeted industry sectors include healthcare, industrial growth, and business services. For more information about Excellere, please visit https://www.excellere.com.
About GHO Capital
Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading specialist healthcare investment advisor based in London. We apply global capabilities and perspectives to unlock high growth healthcare opportunities, targeting Pan-European and transatlantic internationalisation to build market leading businesses of strategic global value. Our proven investment track record reflects the unrivalled depth of our industry expertise and network. We partner with strong management teams to generate long-term sustainable value, improving the efficiency of healthcare delivery to enable better, faster, more accessible healthcare.
In May 2026, GHO Capital announced its combination with CBC Group, creating the world’s largest dedicated healthcare investment manager with over $21 billion in AUM. The transaction is expected to close in early 2027, subject to customary closing conditions and regulatory approvals.
For further information, please visit www.ghocapital.com.
About Biocare Medical
Biocare Medical is a global leader in immunohistochemistry (IHC) and molecular pathology solutions, offering automated instrumentation, high-quality reagents, and simultaneous multiplexing to advance cancer diagnostics and research. Biocare’s mission is to deliver advanced staining solutions designed to produce the highest-quality image on every slide, driving diagnostic accuracy and creating a digital-ready platform for the future of pathology.
Further information:
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