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Collected Strategies handles Exact Sciences as the cancer screening company is acquired by Abbott in a deal with an enterprise value of $23B.
Exact Sciences' offerings include Cologuard, non-invasive colorectal cancer screening option; and Oncotype DX, test for early-stage breast cancer.
The transaction makes Abbott, which will assume $1.8B in Exact Sciences’ net debt, a leader in the fast-growing $60B US cancer screening market, which is expected to rise due to population growth and the graying of America.
Abbott CEO Robert Ford said Exact Sciences’ “innovation, strong brand and customer-focused execution are unrivaled in the cancer diagnostics space.”
Madison, WI-based Exact Sciences is expected to generate more than $3B in revenues this year.
CEO Kevin Conroy will remain in an advisory role to support the transition into Abbott. "Together with Abbott, we can reach more patients, advance earlier detection, and deliver answers that change lives,” he said.
Collected Strategies has founding partner Jim Golden and managing director Tali Epstein representing Exact Sciences.
C Street Advisory handles iRobot Corp as the marketer of the Roomba autonomous vacuum cleaner files Chapter 11 after being squeezed by cheaper competitors.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
