Exact Sciences is being acquired by Abbott, a global healthcare leader, at a total equity value of approximately $21 billion, the company announced today.

“Together with Abbott, we can reach more patients, advance earlier detection and deliver answers that change lives,” Exact Sciences CEO and Chairman Kevin Conroy said in a statement. “Abbott’s culture of innovation and global commercial reach will help accelerate our mission of eradicating cancer and expanding access to our tests worldwide, while delivering immediate and substantial value to our shareholders.”

According to a release, the companies plan to accelerate innovation, expand access to life-changing diagnostics and help more people detect and manage cancer at its earliest, most treatable stages. 

The deal is expected to close in the second quarter of 2026. Exact Sciences will maintain its presence in Madison, and Conroy will remain with the company in an advisory role.

Abbott is located in Abbott Park, Ill.