Abbott Acquires Exact Sciences in ~$21 Billion Deal to Expand Cancer Diagnostics

Exact Sciences Acquires PreventionGenetics

January 9, 2022

Healthcare Services

Exact Sciences Corp. acquired PreventionGenetics, a CLIA- and ISO-accredited genetic testing laboratory based in Marshfield, Wisconsin, for $190 million (50% stock, 50% cash) to accelerate its entrance into hereditary cancer testing. PreventionGenetics reported preliminary 2021 revenue of about $36 million and ~100+ staff; Exact Sciences intends to leverage its commercial reach to expand hereditary cancer and genetic testing domestically and internationally.

Quest Diagnostics Acquires Haystack Oncology

April 27, 2023

Healthcare Services

Quest Diagnostics has agreed to acquire Haystack Oncology in an all-cash transaction valued at $300 million at closing plus up to $150 million in potential milestones. The acquisition adds Haystack's sensitive ctDNA-based minimal residual disease (MRD) liquid biopsy technology to Quest's oncology, genomics and pathology capabilities to expand clinical lab services for MRD testing beginning in 2024.

Abbott Acquires Cardiovascular Systems, Inc.

February 8, 2023

Medical Devices

Abbott entered into a definitive agreement to acquire Cardiovascular Systems, Inc. (CSI), a medical device company focused on atherectomy systems for treating peripheral and coronary artery disease. Under the terms of the deal, CSI stockholders will receive $20 per share, for an expected total equity value of approximately $890 million.

bioMérieux Acquires Specific Diagnostics

April 12, 2022

Medical Devices

bioMérieux has agreed to acquire Specific Diagnostics, a U.S.-based developer of the SPECIFIC REVEAL Rapid AST system, to strengthen its sepsis and antimicrobial stewardship portfolio. bioMérieux will acquire 100% of Specific Diagnostics for a consideration equivalent to 3.3% of bioMérieux's market capitalization as of April 11, 2022, paid in cash and newly issued shares; the deal was expected to close by the end of Q2 2022 subject to regulatory approvals.

Agilent Technologies to Acquire Biocare Medical for $950 Million

March 9, 2026

Healthcare Services

Agilent Technologies entered into a definitive agreement to acquire Biocare Medical, a global provider of clinical and research pathology solutions, in an all-cash transaction valued at $950 million. The deal is designed to expand Agilent’s pathology portfolio—especially immunohistochemistry—and is expected to close no later than Agilent’s fourth fiscal quarter of 2026.

Quidel Acquires Ortho Clinical Diagnostics to Form QuidelOrtho

May 27, 2022

Healthcare Services

Quidel agreed to acquire Ortho Clinical Diagnostics in a cash-and-stock deal valued at approximately $6.0 billion, combining complementary in vitro diagnostics portfolios. The transaction was later completed, creating QuidelOrtho, headquartered in San Diego, and bringing together roughly 6,000 employees and more than $3.5 billion in combined 2021 revenue.