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The company also acquired DNA methylation analysis firm Base Genomics for $410 million and said it plans to raise $869 million in a direct stock offering.
Data amassed by analytics firm Diaceutics suggests fewer patients are coming into healthcare facilities and missing the chance for diagnosis, molecular testing, and treatment.
The company released new data showing that Cologuard 2.0 can detect colorectal cancer with higher sensitivity than the current version of the test.
Exact said it will pay $72 per share for Genomic Health for a total transaction price of $2.8 billion in cash and stock.
The company's total revenue for the three months ended March 31 was $108.8 million compared to $92.6 million in the first quarter of 2018, exceeding analyst expectations.
The firm recently submitted an application to the US Food and Drug Administration to expand Cologuard's label to the 45 to 49 age group.
The firm reported that test volumes for its Cologuard colorectal cancer screening test also rose 79 percent year over year.