MADISON, WI – Today, Madison-based Exact Sciences and Abbott announced a definitive agreement for Abbott to acquire Exact Sciences. Per the terms of the deal, Exact Sciences will maintain its presence in Madison, and Kevin Conroy, chairman and CEO of Exact Sciences and Chamber Board member, will remain in an advisory role to support the transition into Abbott and accelerate its global impact in helping to eradicate cancer worldwide.
In response to the announcement, Greater Madison Chamber of Commerce President Zach Brandon released the following statement:
“We are pleased to welcome Abbott to the Greater Madison business community. Their investment in Greater Madison is the largest in our history and further validates the region’s reputation as a global leader in life sciences and research innovation.
“Founded in Boston in 2001, Exact Sciences moved its headquarters to Madison in 2009. Building on the region’s existing talent pool, the company scaled from a two-person team to a world leader in cancer diagnostics with 7,000 employees.
“As Greater Madison’s growth has accelerated, Exact Sciences has played a crucial role in regional economic activity, been a vital investor in our business community and worked to solve some of healthcare’s most complex challenges.
“We appreciate Abbott Chairman and CEO Robert B. Ford’s acknowledgment of the value of Exact Sciences and the strengths of the region we call home. We are confident that Abbott will find in Madison what Exact Sciences found 16 years ago — the resources, research, infrastructure and talent needed for continued growth and impact. Greater Madison is ground level for many things, including life-changing technology.”
