Abbott made one of the biggest deals in recent medtech history last week when it announced its plan to acquire Exact Sciences — maker of colon cancer screening test Cologuard — for $23 billion .

Experts view the deal as a bold, long-term play that expands Abbott’s portfolio in the high-growth area of diagnostics, as well as complements its existing commercial and regulatory strengths.

Abbott’s acquisition of Exact marks the largest medtech deal since March 2023, when Pfizer bought cancer-focused biotech company Seagen for $43 billion . The deal also comes on the heels of another major medtech transaction last month, when Hologic agreed to be taken private by Blackstone and TPG in a $18.3 billion deal.

The transaction is expected to close in the second quarter of next

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