From WisPolitics.com/WisBusiness.com …
— Abbott’s recently announced $21 billion acquisition of Exact Sciences helps “put a spotlight” on the state’s biohealth sector, which is already attracting more attention from major companies.
That’s according to Lisa Johnson, CEO of BioForward Wisconsin. She tells WisBusiness.com that Madison-based Exact Sciences has been a key pillar in the state’s diagnostics industry under the leadership of Kevin Conroy, who’s staying on in an advisory role through the acquisition.
“This buyout only exemplifies the strength of Wisconsin’s biohealth industry as we attract more biopharma to the state,” she said last week.
She noted pharmaceutical giant Pfizer has a presence in the state through a distribution center and contract development and manufacturing organization. On the startup side of the industry, AbbVie acquired Madison’s Nimble Therapeutics within the last year. And Eli Lilly is spending billions to expand a Kenosha County manufacturing facility.
“That’s had a major impact already in a short amount of time,” Johnson said. “And they’re investing here, and they’re investing in our communities, our regions.”
Exact Sciences will keep its Madison presence after the deal closes, which is expected to occur in the second quarter of 2026, according to the Abbott-Exact Sciences announcement. Johnson noted part of the appeal of staying in Wisconsin is its proximity to Abbott, which is headquartered in Illinois.
“We hope that they maintain everything and that they invest, and I think that’s what we’re seeing from others that have come into the state,” she said, adding that a decade ago, “they were pulling out companies, they didn’t want to keep them in Wisconsin. And that has been reversed, so I guess that would be our hope, that they would maybe come in and make even more investment.”
For now, it’s a “wait and see” moment for the company’s future in the state, Johnson said.
See the full story here.
— St. Croix Regional Medical Center is getting $105 million in USDA funding to build a new critical access hospital.
The support from the USDA Community Facilities Direct Loans and Guaranteed Loans program includes a $95 million direct loan and a $10 million guaranteed loan, according to last week’s announcement. The loans will be used to build a 130,000-square-foot facility, replacing an existing hospital that was built in 1954.
Once finished, the new hospital will increase the medical center’s bed capacity to 25 while adding surgical and specialty care units. The project also includes energy efficiency upgrades, newer technology, hospital system monitoring and lower operating costs, the agency says.
Located within three miles of the existing facility, the new building is also expected to enable better emergency vehicle access.
See the release below.
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