Exact Sciences Buys Genomic Health In $2.8Bn Expansion Deal
Cancer diagnostics company Exact Sciences is combining with Genomic Health in a major merger valued at $2.8bn. The combined company will offer two of the fastest growing brands in cancer diagnostics, Cologuard and Oncotype DX.
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The addition of the Arizona-based sequencing lab builds on Exact’s recent license of the TARDIS liquid biopsy technology from TGen.
As hospitals struggle to prioritize care during the pandemic, molecular and genomic tests are proving helpful in distinguishing patients eligible for neoadjuvant therapy whilst surgical capacity is limited.
Device financing increased substantially in Q3, thanks to debt raises led by Insulet. Acquisition dollar volume dropped, though, but Siemens' buy of Corindus for $1.1bn was a stand-out. Diagnostics/research tools financing dropped by 28% from Q2, while acquisition value greatly increased due to Exact Sciences' $2.8bn purchase of Genomic Health.