Exact Sciences to Merge with Genomic Health Forming a New Cancer Diagnostics Company

Shots:

• Exact Sciences enter into a merger agreement with Genomic in cash & stock transaction for $72/share making the total deal value $2.8B. Genomic to receive $27.50 in cash & $44.50 in shares of Exact Sciences stock for each owned share based on the closing price value as of Jul 26, 2019. The transaction is expected to be completed in H2’19
• Exact Sciences is expected to own ~91% share of the combined company while remaining will be owned by Genomic. The newly formed company will offer Exact Sciences’ Cologuard and Genomic Health’s Oncotype DX, commercially available in 90+ countries with its expected revenue ~$1.6B in 2020
• Cologuard is a non-invasive colon cancer screening test utilizes stool DNA technology to diagnose colon cancer & precancer patients. Oncotype IQ platform is a genomic-based diagnostic test which has guided personalized treatment decisions for cancer patients across the globe

Click here to­ read full press release/ article | Ref: Exact Sciences | Image: Genomic Health