Labcorp (LH) and OPKO Health, Inc. announced the completion of Labcorp's acquisition of select BioReference Health assets focused on oncology and oncology-related clinical testing across the U.S.
The transaction, valued at up to $225 million, includes $192.5 million paid at closing and up to $32.5 million in potential earnouts based on performance.
Labcorp President and COO Mark Schroeder said the acquisition expands access to Labcorp's high-quality laboratory services and strengthens its oncology capabilities, reinforcing its commitment to advancing cancer care. OPKO Chairman and CEO Dr. Phillip Frost highlighted that the transaction allows BioReference Health to focus on its core clinical testing operations and 4Kscore® Test franchise, which generated around $300 million in 2024 revenue. OPKO intends to use part of the proceeds to support its expanded share repurchase authorization.
Monday, LH closed at $275.40, down 0.92%, and is trading flat after hours on the NYSE.
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