Abbott to Acquire Exact Sciences in $21B Deal to Expand Cancer Diagnostics Portfolio
Abbott has announced a $21 billion deal to acquire Exact Sciences, a Madison, Wisconsin-based leader in cancer screening and precision oncology diagnostics, strengthening its leadership in the rapidly expanding $60 billion U.S. cancer screening and precision oncology diagnostics markets. Exact Sciences shareholders will receive $105 per share, and the transaction includes the absorption of approximately $1.8 billion in net debt. Both companies’ boards unanimously approved the deal, which is expected to close in the second quarter of 2026 pending regulatory and shareholder approvals.
The acquisition provides Abbott with a significant new growth segment centered around Exact Sciences’ portfolio of early cancer detection, treatment guidance, and recurrence monitoring tests. These include the widely used Cologuard colorectal cancer screening test and the Oncotype DX breast cancer assay, as well as emerging liquid biopsy technologies for multi-cancer early detection and the molecular residual disease. “Exact Sciences’ innovation, its strong brand and customer-focused execution are unrivaled in the cancer diagnostics space, and its presence and strengths are complementary to our own,” said Robert B. Ford, chairman and chief executive officer of Abbott. He added that the two companies will work together to address the global rise in cancer by expanding access to earlier detection and more precise care.
“Together with Abbott, we can reach more patients, advance earlier detection, and deliver answers that change lives,” said Kevin Conroy, chairman and CEO of Exact Sciences, who will remain with the company in an advisory capacity after the acquisition closes, supporting integration efforts and guiding future development.
Exact Sciences is expected to generate more than $3 billion in revenue this year, with high-teens organic growth. Once integrated, the company will maintain its presence in Madison, Wisconsin, and operate as a subsidiary of Abbott, lifting Abbott’s annual diagnostics revenue above $12 billion. Abbott said the transaction will be immediately accretive to its revenue growth and gross margin, while long-term returns are projected to reach the high single digits by year five.
