Abbott has entered into a definitive agreement to acquire Exact Sciences, a leader in cancer screening, precision oncology and genetic testing. The acquisition will enable Abbott to enter and lead in fast-growing cancer diagnostics market.

Under the terms of the agreement, Abbott will acquire all outstanding shares of Exact Sciences for USD 105 per common share in cash, at a total equity value of approximately USD 21 billion and an estimated enterprise value of USD 23 billion. Abbott's financing plan includes the absorption of Exact Sciences' estimated USD 1.8 billion of net debt.

Exact Sciences is widely recognised for its market-leading Cologuard colorectal cancer screening test, Oncotype DX breast cancer assay, Oncodetect MRD (molecular residual disease) tool and Cancerguard, a multi-cancer early detection blood test. These offerings enable early cancer detection, personalised treatment decisions and recurrence monitoring.   

“Exact Sciences' innovation, its strong brand and customer-focused execution are unrivalled 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,” he added.

Exact Sciences chairman and CEO Kevin Conroy said the deal will advance the company’s mission of expanding access to earlier detection worldwide

"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,” he stated.

The transaction, unanimously approved by both companies’ boards, is expected to close in the second quarter of 2026, subject to regulatory and shareholder approvals. After completion, Exact Sciences—projected to generate more than USD 3 billion in revenue this year with high-teens organic growth—will operate as a subsidiary of Abbott. The acquisition will lift Abbott’s annual diagnostics sales to over USD 12 billion.

Exact Sciences will retain its presence in Madison, Wisconsin, and Conroy will continue in an advisory role to support the transition and help accelerate the company’s global impact in cancer diagnostics.