Maintaining dominance, Labcorp to buy BioReference Health assets from OPKO for $722M
Landon Capital News
Labcorp (LH) has agreed to acquire select assets of BioReference Health, LLC, a wholly owned subsidiary of OPKO Health (Nasdaq: OPK), for $722 million in cash at closing, with up to an additional $150 million in an earnout tied to revenue from the 4Kscore Test.
Under the terms of the deal, Labcorp will acquire BioReference Health’s clinical and women’s health testing businesses, urology, corrections services, and certain operational assets, including more than 80 patient service centers. The transaction also includes BioReference Health’s proprietary 4Kscore Test, an FDA-approved blood test used to assess the likelihood of aggressive prostate cancer prior to a biopsy.
Labcorp expects the acquired business to generate approximately $250 million in revenue in the first year following the close of the transaction, based on its current post-closing forecasts.
“This acquisition strengthens our ability to deliver affordable, high-quality, specialized diagnostic services to more patients and providers around the country,” said Bryan Vaughn, Executive Vice President and President of Diagnostics at Labcorp.
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