Operations at Exact Sciences
Source: Exact Sciences
Cancer diagnostics company Exact Sciences said on Monday it will buy health-care company Genomic Health for about $2.8 billion to bolster its cancer testing business.
Under terms of the deal, Genomic Health stockholders will receive $27.50 in cash and $44.50 in shares of Exact Sciences stock, for a total value of $72 per share.
Wisconsin-based Exact Sciences focuses on early detection of cancer, developing DNA-based tests to help diagnose colorectal cancer.