Exact science to acquire Genomic Health at $2.8 billion buyout deal


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Exact science to acquire Genomic Health at $2.8 billion buyout deal

Madison, Wisconsin-based Exact Sciences Corp., a molecular diagnostic company engaged in early detection and prevention of colorectal cancer, a disease responsible for more than 50,000 deaths every year across the globe, had been in an advanced stage negotiation to take over CA-based healthcare company, Genomic Health, headquartered in Redwood City at an all-cash buyout deal what could be worth more than $2.8 billion, as the Wisconsin-based cancer diagnostic company seeks to bolster its cancer-testing business, a Bloomberg report published on Saturday, the 27th of July 2019, had revealed citing sources familiar with the subject-matter.

Aside from that, Saturday’s (July 27th) Bloomberg report also added that an acquisition deal might be announced as early as next week, however, depending on the negotiation, an announcement of the possible merger deal could be delayed as well.

Nonetheless, another source briefed directly over the boardroom negotiation had been quoted saying following Saturday’s (July 27th) Bloomberg report that the deal could still fall apart. However, while being asked for comments, neither Exact Sciences nor Genomic Health responded immediately, but a spokeswoman for CA-based Genomic Health had confirmed in terms of anonymity that both sides had reached an initial accord to the merger attempt, as the source was not authorized to speak over the issue in public.