GE Healthcare has reached an agreement with Applied Precision to purchase the cellular imaging technology company for an undisclosed amount.

Reportedly aimed at expanding pharmaceutical and life science research and product offerings, Waukesha, Wis.-based GE said it expected the acquisition to close in the second quarter of 2011. Applied Precision, of Issaquah, Wash., develops high-resolution microscopy instruments. According to the two companies, Precision’s Issaquah plant will continue running after the acquisition is completed.