Cancer diagnostics company Exact Sciences (EXAS) - Get Report is in advanced talks to acquire healthcare company Genomic Health (GHDX) - Get Report for about $2.8 billion to strengthen its cancer-testing offerings, according to Bloomberg.

Citing people familiar with the negotiations, Bloomberg reported on Saturday that Exact Sciences is in advanced talks to acquire Genomic Health, and that a deal could be announced as early as this week.

Exact Sciences focuses predominantly on colorectal cancer detection, while Genomic Health provides a broader array of cancer-focused molecular testing services via its Oncotype DX test for breast cancer, ductal carcinoma in situ, colon cancer and prostate cancer.

Shares of Exact Sciences ended the day Friday at $117.92 on the Nasdaq Stock Market, while shares of Genomic Health finished at $68.66.

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