As cancer detection companies thrive, Exact Sciences looks to consolidate by spending $2.8B to acquire peer Genomic Health

As predicted by Bloomberg, cancer diagnostics company Exact Sciences is buying peer Genomic Health in a?$2.8 billion cash-and-stock deal.?

Exact Sciences? flagship colorectal cancer test Cologuard will complement Genomic Health?s Oncotype DX, a test designed to help doctors determine the best course of treatment for women with breast cancer. Together the tests help inform treatment decisions in colorectal, breast and prostate cancer, representing roughly 40% of all solid tumor incidence, the companies said.

Last year, Exact Sciences enlisted Pfizer as a US marketing partner to expand Cologuard adoption. The tie-up has ramped up the use of the test ? in the second quarter of 201