Global healthcare company Abbott (NYSE:ABT) confirmed on Monday that it has completed the acquisition of molecular diagnostics company Exact Sciences.

According to Abbott, this acquisition establishes its position as a leader in fast-growing cancer screening and diagnostics segments, and enables the company to serve millions of additional people.

Abbott now has a comprehensive suite of products and differentiated pipeline focused on the early detection of cancer and supporting personalised treatments. This includes the Cologuard test, a market-leading noninvasive colorectal cancer screening option; Oncotype DX, which informs personalised treatment decisions for patients with early-stage breast cancer; Oncodetect, a tumour-informed molecular residual disease (MRD) test to help identify cancer recurrence and guide follow-up care; and Cancerguard, a multi-cancer early detection blood test. Abbott also adds a leading pipeline of next-generation cancer screening and diagnostics designed to detect cancer even earlier, optimise treatment decisions and enable regular monitoring to help people stay healthy and better manage the disease.

Upon completion of the acquisition, Exact Sciences became a wholly owned subsidiary of Abbott and its shares are no longer traded on the Nasdaq Stock Market.