MARSHFIELD, WI (OnFocus) – Exact Sciences Corp. announced today it has acquired PreventionGenetics, a genetic testing laboratory, to complement its advanced cancer diagnostics portfolio and support its entrance into hereditary cancer testing (HCT). PreventionGenetics provides the clinical lab, expertise, and foundational technology necessary to accelerate the availability of HCT and help more patients know their germline risk of cancer and other diseases.
“PreventionGenetics is a natural fit with Exact Sciences, and we’re thrilled to have their talented team join in our mission to make earlier cancer detection a routine part of medical care,” said Kevin Conroy, Exact Sciences chairman and CEO. “We share in PreventionGenetics’ belief that genetics can transform medicine, improve lives, and help eradicate cancer. With our deep relationships in primary care and PreventionGenetics’ strong reputation among genetics specialists, Exact Sciences can help more people understand their inherited risk of cancer to catch it earlier and treat it more effectively.”
Nearly 300,000 health care providers and more than 200 large U.S. health systems rely on Exact Sciences’ Cologuard® and Oncotype DX® tests in primary care, women’s health, oncology, and other specialties. In partnership with the PreventionGenetics team, Exact Sciences plans to leverage its unmatched commercial reach in diagnostics to expand hereditary cancer and genetic testing throughout the U.S. and globally.
PreventionGenetics is a CLIA-certified and CAP-accredited clinical DNA testing laboratory, providing more than 5,000 predefined genetic tests for nearly all clinically relevant genes, additional custom panels, and comprehensive germline whole exome and whole genome sequencing tests. With a goal to improve lives through genetic testing, PreventionGenetics offers tests spanning decades of life including proactive health and wellness, cancer risk and screening, pediatric and adult-onset rare diseases, and others. These high-quality genetic tests are supported by deep sequencing capabilities and more than 100 peer-reviewed publications.
Like Exact Sciences, the PreventionGenetics team is relentless in their pursuit of quality. This focus, combined with a best-in-class customer experience and turnaround times, has earned PreventionGenetics a strong reputation and brand recognition among genetics specialists and counselors.
The transaction provides PreventionGenetics with $190 million in total compensation with 50% coming in the form of Exact Sciences common stock and the other 50% in cash.
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