Transaction to extend the leadership of Labcorp in oncology and develop access to the company’s high quality clinical laboratory services
Burlington, nc And Miami,, March 11, 2025 / Prnewswire / – Laborp (Nyse: LH), a world leader in innovative and complete laboratory services, and OPKO Health, Inc. (Nasdaq: Adoption), a biopharmaceutical and multinational diagnostic company, announced today that they had concluded an agreement for Labcorp to acquire selected assets of Bioreference HealthA subsidiary in exclusive ownership of Opko Health.
Thanks to this transaction, LABCORP will acquire the Bioreference Health Laboratory Test Companies focused on clinical tests related to oncology and oncology The United States. This transaction includes certain customer accounts and other operating assets.
Once finished, the transaction should provide patients, doctors and customers better access to the full and high -quality laboratory services of LABCORP, scientific expertise and expanded test capacities. This acquisition also solidifies the position of LABCORP as a leader in oncology industry, expanding its vast portfolio of diagnostic tests in cancer care.
“By integrating the oncology of Bioreference Health and the related clinical test services in our portfolio, we offer better access to our world class services to patients, doctors and health care providers across the country,” said Mark SchroederEVP and president, diagnostic laboratories and operations chief, LABCORP. “This acquisition is also aligned with our strategy to lead in oncology and strengthens our commitment to advance care against cancer thanks to innovative and complete laboratory services. We are impatient to welcome our new colleagues and work together to offer an even greater value to the health care community.”
“This transaction with LABCORP represents another important step for OPKO Health in order to further rationalize Bioreference Health operations to achieve profitability,” said Phillip FrostMD, president and chief executive officer of Opko. “Bioreference Health will keep its main clinical test services in the new York And New Jersey Region and have the ability to further expand your urology franchise with its 4KSCORE owner test. We believe that the sale of these diagnostic assets in oncology is an important catalyst to unlock an additional value. “”
The assets that LABCORP will acquire currently approximately $ 85 million has $ 100 million in annual income. The purchase price of the transaction is up to $ 225 millionincluding $ 192.5 million payable to closure and until $ 32.5 million in a performance based on performance. The proposed acquisition meets the strategic and financial criteria of LABCORP and should be accredited for the profits of LABCORP during the first year.
At the end of this transaction, Bioreference Health operations will include its main clinical test operations in the new York And New Jersey region and 4kscore franchise, which represented approximately $ 300 million In income for 2024.
The transaction is subject to the usual closing conditions and regulatory approvals of the applicable state. The transaction should close in the second half of 2025.
Lazard is Labcorp’s financial advisor, and Hogan Lovells and Kilpatrick Townsend serve as a legal advisor.
Piper Sandler & Co. is the financial advisor of Opko Health and Greenberg Traurig is a legal advisor.
About Labcorp
LABCORP (NYSE: LH) is a world leader in innovative and complete laboratory services that help doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide prior ideas and sciences to improve health and improve lives through our unprecedented diagnostic and development laboratory capacities. Nearly 70,000 company employees serve customers in approximately 100 countries, have supported more than 75% of new drugs and therapeutic products approved in 2024 by the FDA and carry out more than 700 million tests per year for patients around the world. Learn more about us www.labcorp.com.
About Opko
Opko Health, Inc. (Nasdaq: Adoption) is a biopharmaceutical and multinational diagnostic company that seeks to establish advanced positions in major rapidly growing markets by taking advantage of its expertise in discovery, development and marketing and new and owners. For more information, visit www.opko.com.
Cancement declaration concerning prospective declarations
This press release contains prospective declarations, including, but without limiting itself, the declarations concerning (a) the provided for the transaction, including the expansion of access to complete and high quality laboratory services, scientific expertise and enlarged test capacities, including oncology; (b) The time planned for the closure, (c) the payment of potential gain, (d) the other potential provided of the acquisition when combined with Labcorp and (e) the advanced advantages for Bioreference Health and Opko, including the capacity of Bioreference Health to maintain its main commercial tests and to extend its urology franchise, and to obtain profitability.
Each of the prospective declarations is subject to a change according to various important factors, many of which are beyond OPKO health and business control. These factors, in some cases, have affected and in the future (with other factors) could affect the company’s capacity to implement the business strategy of the company, and the capacity of Bioreference Health to achieve commercial objectives, and real results could differ materially from those suggested by these prospective declarations. Consequently, readers are warned not to rely on any of the prospective declarations.
Neither the company nor the OPKO health have the obligation to provide updates to these prospective declarations even if its expectations change. All prospective declarations are expressly qualified in their entirety by this declaration. Further information on potential factors, the risks and uncertainties that could affect operating and financial results are included in each of the company’s annual forms and Opko Health on Form 10-K and the following 10-q, including in each case within the framework of CAP risk factors, and in each other DSA DEC declarations. The information of this presentation must be read jointly with an examination of Opko Health and the documents of the company with the SEC, including the information in each of the latest annual reports of the company and Opko Health on Form 10-K, and the following forms 10-Q, as part of the “Discussion of Directorate and the analysis of the financial situation and the results of operations”.
Source Labcorp Holdings Inc
