Cancer diagnostics specialist Guardant Health has completed its $149m acquisition of health technology company, MetaSight Diagnostics, as the company gears up for strong year-on-year (YoY) revenue growth in 2026.
The deal saw Guardant hand over $59m upfront to gain access to MetaSight’s range of next-generation liquid biopsies, which are designed to be used at the population level for the early detection of chronic and acute diseases, including cancer. The company has also pledged up to $90m in potential regulatory and commercial milestone payments through this agreement.
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MetaSight was originally founded in 2020 through a partnership between global healthtech investment fund aMoon and Israel’s Institute of Technology, Technion.
Alongside its acquisition of MetaSight, Guardant posted movement towards profitability in 2025. During the year, the company’s total revenue for the year soared 33% YoY from $739m in 2024 to $982m – meeting analyst expectations.
This growth was primarily driven by ballooning revenue from its oncology division, which increased by 26% YoY to $683.6m in 2025. Meanwhile, screening revenue during 2025 was $79.7m.
The company also reported positive results for its biopharma and data offerings, which made $210.1m in 2025, an increase of 18% on 2024.
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By GlobalDataThe company also limited its free cash flow burn to $233m, down from $275m in 2024. However, Guardant’s operating expenses increased to $1.07bn in 2025. This increase was largely due to the expansion of its commercial team, as well as marketing activities to support the growth of newly launched and established products in its portfolio.
Looking ahead to 2026, Guardant predicts further strong growth across the business, with the company expecting to see revenue increase to between $1.25bn and $1.28bn. This marks a projected growth of around 27%-30% YoY, which lies 2% above analyst consensus. Guardant forecasts that this revenue rise will primarily be driven by the projected 25%-27% growth of its oncology portfolio.
In a research note, William Blair analyst Andrew Brackmann noted that the investment banking firm sees “significant room for relative upside to develop,” which will likely come from both its oncology and screening segments.
Brackmann added that “regulatory and reimbursement catalysts, additional data generation and progress toward achieving cash flow breakeven” will also help to sustain positive momentum and investor sentiments.
Cancer diagnostics field shows commercial promise
In recent years, cancer diagnostics has been a notable area of growth within the medtech industry, with a report from GlobalData forecasting that the market will reach a value of $3.1bn by 2030.
In November 2025, medtech giant Abbott acquired all outstanding shares in oncology diagnostics specialist, Exact Sciences for $23bn, which was the largest deal within the wider sector last year.
During a previous conversation with Medical Device Network, Russell Bradley, president and general manager of rare cancer assay developer CNSide, noted that companion diagnostics can act as a precise targeting tool to “facilitate the best match between a specific patient and the optimal therapeutic strategy”.
However, Bradley said that challenges remain in implementing CDx tools, with high bars to regulatory approval potentially complicating the business case for such tests.
