Madison-based biotechnology company Exact Sciences Corp. is planning to grab a larger share of the $20 billion cancer diagnostic market with two more acquisitions.
In an earnings call with analysts on Monday, CEO Kevin Conroy said his company, which makes the Cologuard take-home colon cancer screening test, had signed agreements to acquire Phoenix-area med tech companies Paradigm Diagnostics Inc. and Viomics.
An estimated closing date for the acquisitions, or the financial details of the deals, were not disclosed.
The deals would be Exact Sciences’ second and third within the past year. This past November, Exact Sciences (Nasdaq: EXAS) completed its acquisition of California’s Genomic Health in a cash and stock deal valued at $2.8 billion. The company recently reported fiscal 2019 revenue of $876.3 million, which included revenue from Genomic’s precision oncology business from the Nov. 8 closing date through Dec. 31, 2019.
Both Paradigm and Viomics were founded and are currently led by biotech entrepreneur David Mallery.
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