MON AM News: Exact Sciences acquisition ‘puts a spotlight’ on state’s biohealth sector; St. Croix Regional Medical Center getting $105M in USDA funding

December 1, 2025

— 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. In an interview, she said 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. 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, last week’s announcement said. 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.

Other leaders in the area are touting Abbott’s investment, with Greater Madison Chamber of Commerce President Zach Brandon noting it’s the largest in the region’s history. While Exact Sciences was founded in Boston in 2001, the diagnostics firm has been based in Madison since 2009, growing to around 7,000 employees since then.

“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,” Brandon said in a statement on the acquisition.

Meanwhile, Johnson said Abbott’s move demonstrates biohealth “continues to be one of Wisconsin’s most important growth industries,” helping it compete with other states for years to come.

That includes vying for capital from venture capital firms, she added, noting she expects to see more investor attention on Wisconsin following Abbott’s announcement.

“This is a return on investment. Admittedly, Exact Sciences was public but they brought a return on investment to their shareholders,” she said. “That’s what investors want to see.”

See more on the acquisition 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.

— We Energies, Wisconsin Public Service and Madison Gas & Electric have gotten approval to buy stake in four renewable energy projects, the utilities announced.

The companies last week said the state Public Service Commission approved their purchase of shares in four projects.

These include: the Saratoga Solar Energy Center in Wood County, which includes solar and battery storage; Ursa Solar Park in Columbia County; the Badger Hollow Wind Farm in Iowa and Grant counties; and the Whitetail Wind Farm in Grant County.

We Energies is the majority owner in the projects, which are expected to go online in 2027 and 2028.

“These new projects will serve customers year-round and are expected to provide customers millions of dollars in fuel cost and federal tax credit savings,” We Energies President Mike Hooper said in a statement.

See releases from We Energies and MGE.

— Visit Milwaukee has launched a new winter tourism campaign, with dozens of hotels in the area offering discounts from mid-January to late February.

Including restaurants and other participating companies, a total of 110 Milwaukee businesses are taking part in the visitors bureau’s “Hotel Month,” according to the campaign announcement. Partner hotels are offering 15-25% discounts from Jan. 14 to Feb. 28.

Visit Milwaukee is rolling out paid digital advertising in the region and social media efforts to promote the campaign, as well as giveaways and more.

See the release.

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