Agilent Completes Acquisition of Resolution Bioscience, Expands Role in Fast-growing NGS Market for Precision Oncology
April 15 2021 - 4:05PM
Business Wire
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 $5.34 billion in fiscal
year 2020 and employs 16,400 people worldwide. Information about
Agilent is available at www.agilent.com. To receive the latest
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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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version on businesswire.com: https://www.businesswire.com/news/home/20210415005301/en/
Media Contact: Tom Beermann +1 408-553-2914
tom.beermann@agilent.com
Investor Contact: Ruben DiRado +1 408 345-8971
ruben_dirado@agilent.com
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