July 29, 2019 / 11:09 AM / a month ago

Exact Sciences to buy Genomic Health for $2.8 billion

July 29 (Reuters) - 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)

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