Abbott Signs $21 Bn Agreement to Acquire Exact Sciences, Accelerating Push Into Cancer Diagnostics

The deal is expected to close in the second quarter of 2026, subject to regulatory and shareholder approvals.

Abbott has entered a definitive agreement to acquire Exact Sciences for $105 per share, valuing the cancer diagnostics company at approximately $21 billion. The acquisition marks Abbott’s strategic move into fast-growing cancer detection and precision oncology markets.

The deal is expected to close in the second quarter of 2026, subject to regulatory and shareholder approvals.

Under the agreement, Abbott will assume all outstanding shares of Exact Sciences in an all-cash transaction, along with $1.8 billion in net debt, bringing the estimated enterprise value to $23 billion. Both companies’ boards have unanimously approved the transaction.

Exact Sciences, projected to generate over $3 billion in revenue this year, brings a broad portfolio of cancer screening and diagnostic products. Its offerings include the Cologuard non-invasive colorectal cancer test, Oncotype DX for treatment decision support in breast cancer, Oncodetect for molecular residual disease (MRD) monitoring, and Cancerguard, a multi-cancer early detection blood test. The company also offers genetic risk assessments and tumor profiling solutions under its precision oncology division.

Abbott chairman and CEO Robert B. Ford said the acquisition aligns with the company’s long-term diagnostics strategy. “Exact Sciences’ innovation, strong brand, and execution are unrivaled in the cancer diagnostics space,” he said. Exact Sciences’ chairman and CEO, Kevin Conroy, said Abbott’s global footprint will help broaden access to its tests while supporting continued development in early cancer detection.

Following completion, Exact Sciences will operate as a subsidiary of Abbott and maintain its Madison, Wisconsin, presence. Conroy will remain in an advisory role during the transition.

The deal will expand Abbott’s diagnostics revenue to more than $12 billion annually, enhancing its presence in screening, liquid biopsy, genetic testing, and oncology monitoring. Exact Sciences continues advancing a pipeline of next-generation diagnostics aimed at earlier detection, recurrence monitoring, and personalized treatment guidance.

Morgan Stanley served as Abbott’s exclusive financial advisor, while Centerview Partners and XMS Capital advised Exact Sciences. Wachtell, Lipton, Rosen & Katz acted as legal counsel for Abbott; Skadden, Arps, Slate, Meagher & Flom LLP represented Exact Sciences..

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