NEW YORK – Agilent Technologies on Monday said it has reorganized two of its three business segments, based on shared end markets and customers, to support the firm’s efforts to accelerate its growth.
The Santa Clara, California-based firm said it is pairing its diagnostics business with its life sciences portfolio into a new business group called the Life Sciences and Diagnostics Markets Group (LDG). The new group provides about 38 percent of the company’s revenues and will be focused on Agilent’s pharma, biopharma, clinical, and diagnostics end markets.
The LDG segment includes technologies for research and discovery, development, scale-up, therapeutics production, and cancer diagnostics development. It includes the firm’s liquid chromatography and mass spectrometry instrument platforms, cell and biomolecular analysis tools, CDMO services, and pathology, companion diagnostics, and genomics businesses.
Simon May, who had been president of Agilent’s previous Diagnostics and Genomics Group, has been appointed as LDG president.
The company’s Applied Markets Group, which provides 20 percent of revenues, is focused on food, environmental, forensics, chemicals, and advanced materials markets. That business segment includes gas chromatography and mass spectrometry, spectroscopy, and vacuum technology platforms.
Mike Zhang has been appointed president of the Applied Markets Group. He was most recently the vice president and general manager of the company’s GC/MS product line within the former Life Sciences and Applied Markets Group. Phil Binns, who had been president of that business segment, will support the transition to the new business structure and retire in April 2025, the company said.
Meanwhile, the Agilent CrossLab Group, which provides 42 percent of the firm’s revenues, is expanding to incorporate software, informatics, automation, and consumables to customers in all of the company’s end markets. Angelica Riemann will remain president of that group.
Agilent is scheduled to announced its fourth quarter and full-year 2024 financial results Monday evening.
Agilent’s shares were up by less than 1 percent to $134.46 in Monday morning trading on the New York Stock Exchange.