Shots:
- Labcorp has entered into an agreement with OPKO Health to acquire select assets of OPKO’s wholly owned subsidiary BioReference Health, incl. its laboratory testing businesses focused on clinical & women’s health testing services, urology, corrections and certain operational assets, incl. >80 additional patient service centers
- As per the deal, Labcorp will pay $722M in cash at closing (subject to adjustment based on closing business revenues) plus up to $150M in an earnout based on revenue from the 4Kscore Test; Labcorp expects the business revenue to be ~$250M in the first year after close
- Labcorp will also acquire BioReference’s FDA-approved 4Kscore Test, a blood test that helps predict the likelihood of finding aggressive prostate cancer before a biopsy decision; the deal is subject to regulatory approvals & customary closing conditions, and will allow OPKO to focus on its biopharmaceutical business
Ref: PR Newswire | Image: Labcorp & OPKO Health | Press Release
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