04 Aug Wisconsin State Journal: Tom Still: Exact Sciences plan to acquire California cancer-fighting firm elevates state’s image
In the not-so-distant past, the preferred exit ramp for young health-tech companies in Wisconsin was to be purchased by a bigger firm in California or elsewhere.
The planned acquisition of Genomic Health by Madison-based Exact Sciences Corp. has altered that pattern, with intriguing possibilities for the combined company, Wisconsin’s status as a health-tech leader and, most important, the fight against cancer.
Exact Sciences is coming off a robust quarter in which its DNA-based testing kit for colorectal cancer, Cologuard, was used to screen 415,000 customers and sales generated just under $200 million in revenue. On the same day those figures hit the markets, Exact Sciences jointly announced the $2.8 billion Genomics Health deal.
It’s a match that makes sense for both companies. Exact Sciences has focused on colorectal cancer detection so far while pursuing plans to combat other forms of the nation’s second-leading killer, with strategic partners near and far.
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