WASHINGTON (dpa-AFX) - Labcorp Holdings Inc. (LH), a provider of laboratory services, Tuesday said it has agreed to acquire certain assets of BioReference Health, a unit of OPKO Health, Inc. (OPK) for a price of up to $225 million.
Through this deal, Labcorp will acquire BioReference Health's laboratory testing businesses focused on oncology and oncology-related clinical testing services across the United States. The transaction also includes certain customer accounts and other operating assets.
The assets that LabCorp acquires generate annual revenue of about $85 million to $100 million. The acquisition is expected to add to Labcorp's earnings in the first year.
The purchase price of $225 million includes $192.5 million to be paid at closing, and earnout payment of up to $32.5 million based on performance.
The deal is expected to close in the second half of 2025.
'By integrating BioReference Health's oncology and related clinical testing services into our portfolio, we're providing greater access to our world-class services to patients, physicians and healthcare providers across the country,' said Mark Schroeder, EVP and President, Diagnostics Laboratories and Chief Operations Officer, Labcorp. 'This acquisition also aligns with our strategy to lead in oncology and reinforces our commitment to advancing cancer care through innovative and comprehensive laboratory services.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
