Abbott, a healthcare company with a broad portfolio in diagnostics, medical devices, nutrition, and medicines, has announced a definitive agreement to acquire Exact Sciences for $21 billion in cash, valuing each share at $105. With Exact Sciences projected to generate more than $3 billion in revenue this year and maintain high-teens organic sales growth, the acquisition will allow Abbott to expand into fast-growing cancer diagnostics.
Exact Sciences will bring established products such as Cologuard, Oncotype DX and Cancerguard, as well as tests for hereditary risk, treatment guidance, and molecular residual disease detection. “Exact Sciences’ innovation, its strong brand and customer-focused execution are unrivaled in the cancer diagnostics space,” Abbott CEO Robert B. Ford said, noting Abbott’s commitment to addressing major health challenges.
The companies expect the transaction to close in the second quarter of 2026, following shareholder and regulatory approvals. Once completed, Exact Sciences will operate as a subsidiary of Abbott, increasing Abbott’s diagnostics revenue to more than $12 billion annually.
Exact Sciences CEO Kevin Conroy said, “Together with Abbott, we can reach more patients, advance earlier detection and deliver answers that change lives,” adding that the partnership will accelerate efforts to expand cancer screening and testing. Exact Sciences will maintain its presence in Madison, Wis. Kevin Conroy will remain with the company in an advisory role to support the transition into Abbott and accelerate its global impact in helping to eradicate cancer worldwide.
