Abbott Closes $23B Exact Sciences Deal to Add Cologuard Tests
Abbott has completed its $23 billion acquisition of Exact Sciences, adding the Cologuard colorectal cancer screening business and its team of 7,000 employees, half based in Madison. The deal positions Abbott in precision oncology diagnostics, leveraging FDA-approved Cologuard Plus and development of a blood-based screening test.
1. Acquisition Details
Abbott finalized its $23 billion purchase of Exact Sciences, a deal first announced in November and completed on March 23. Exact Sciences, headquartered in Madison since 2009, employs around 7,000 people, with roughly half of its workforce based in Wisconsin.
2. Cologuard Portfolio
The deal brings Cologuard, a non-invasive colorectal cancer screening test approved by the FDA in 2014, under Abbott’s umbrella. Exact Sciences also secured FDA approval for Cologuard Plus in 2024, offering higher sensitivity and nearly 40% fewer false positives, and is developing a blood-based screening method.
3. Strategic Impact
Abbott aims to expand its presence in cancer diagnostics by integrating Exact Sciences’ molecular testing capabilities. The acquisition enhances Abbott’s precision oncology offerings and is expected to drive revenue growth through increased screening adoption and new test development.
4. Local Operations and Leadership
Abbott pledged to maintain Exact Sciences’ Madison facilities and workforce, preserving local economic contributions. Founder-CEO Kevin Conroy will transition to an advisory role, ensuring leadership continuity during integration.