US-based global healthcare company Abbott (NYSE:ABT) announced on Thursday that it has signed a definitive agreement to acquire molecular diagnostics company Exact Sciences (NASDAQ:EXAS), allowing Abbott to enter and lead in fast-growing cancer diagnostics segments.

Under the terms of the agreement, Exact Sciences shareholders will receive USD105 per common share, representing a total equity value of approximately USD21bn and an estimated enterprise value of USD23bn. Abbott's financing will absorb Exact Sciences' net debt of around USD1.8bn.

Together, the two companies expect to accelerate innovation, expand access to life-changing diagnostics, and help more people detect and manage cancer at its earliest, most treatable stages.

Closing is expected in the second quarter of 2026, subject to Exact Sciences shareholder approval as well as regulatory clearance and other customary closing conditions.

Both companies' boards of directors have unanimously approved the deal.