Cancer diagnostics company Exact Sciences Corp said on Monday it will buy healthcare company Genomic Health Inc 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.
(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shailesh Kuber) ((saumya.joseph@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 2290; Reuters Messaging: saumya.joseph.thomsonreuters.com@reuters.net))
