Abbott to acquire Exact Sciences in USD 23 billion deal
Abbott Park, III.: Abbott and Exact Sciences have announced a definitive agreement for Abbott to acquire Exact Sciences, which will enable it to enter in fast-growing cancer diagnostics segments, serving millions more people.
Under the terms of the agreement, Exact Sciences shareholders will receive $105 per common share, representing a total equity value of approximately $21 billion.
Exact Sciences focuses on the early detection of cancer and supporting personalized treatments. Exact Sciences' comprehensive product offerings support patients and their healthcare providers before, during and after a cancer diagnosis.
Its product offerings include the Cologuard test, a noninvasive colorectal cancer screening option; Oncotype DX, which informs personalized treatment decisions for patients with breast cancer; Oncodetect, which identifies molecular residual disease (MRD) to help assess the risk of recurrence and guide follow-up care; and Cancerguard, a multi-cancer early detection blood test.
Approximately 20 million people globally, including 2 million Americans, are diagnosed with cancer every year. These numbers are only expected to rise in the coming years due to population growth, aging and other contributing factors.
"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, Abbott. "Abbott has repeatedly taken on the world's most challenging health issues and made a meaningful impact on the lives of people in areas such as diabetes, cardiovascular disease and infectious diseases. We're excited to bring Exact Sciences' people and know-how into Abbott so that together, we can take on the global challenge of cancer."
"Together with Abbott, we can reach more patients, advance earlier detection, and deliver answers that change lives," said Kevin Conroy, chairman and chief executive officer, Exact Sciences. "Abbott's culture of innovation and global commercial reach will help accelerate our mission of eradicating cancer and expanding access to our tests worldwide, while delivering immediate and substantial value to our shareholders. I want to thank the 7,000 Exact Sciences' team members for their extraordinary work and dedication — our journey has just begun."
Under the terms of the agreement, Abbott will acquire all outstanding shares of Exact Sciences for $105 per common share in cash, at a total equity value of approximately $21 billion and an estimated enterprise value of $23 billion. Abbott's financing contemplates absorption of Exact Sciences' estimated $1.8 billion of net debt.
The closing is expected in the second quarter of 2026 and is subject to Exact Sciences' shareholder approval, as well as receipt of applicable regulatory approvals and other customary closing conditions. The transaction was unanimously approved by both companies' boards of directors.
Exact Sciences is projected to generate more than $3 billion in revenue this year, with a high teens organic sales growth rate. Once the transaction is completed, Exact Sciences will become a subsidiary of Abbott, and Abbott's total diagnostics sales will exceed $12 billion annually.
Following the closing, 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.
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