29 Jul Exact Sciences Buying Genomic Health in $2.8B Cancer Diagnostics Deal
With ambitious sales goals and its stock trading at an all-time high this year, cancer diagnostics firm Exact Sciences decided to go shopping. The result is a deal announced Monday to acquire Genomic Health for $2.8 billion in cash and stock, a combination that Exact CEO Kevin Conroy argues will create a global leader in the sector.
“Together we have a stronger financial profile than on our own, allowing us to continue to invest in growth opportunities,” Conroy (pictured above) said on a conference call Monday with financial analysts. “We’re bringing together complementary capabilities to create a leading cancer diagnostics company.”