Labcorp will acquire certain assets from Opko Health for up to $872 millions.
Reuters, October 15 - Labcorp (LH.N), a laboratory operator, announced on Thursday that it will acquire certain assets from a subsidiary of Opko Health OPK.O in a $722 million cash deal, and may pay up to an additional $150 million depending on revenue from prostate cancer screenings.
Shares of Opko Health rose 20% in pre-market trading.
Details are as follows:
Under the agreement, Labcorp will acquire Opko's BioReference Health laboratory testing business, including its clinical diagnostics, women's health, urology, and prison healthcare testing divisions.
This deal will give Labcorp access to more than 80 patient service centers and some operational assets.
Labcorp will also acquire ownership of the BioReference 4Kscore test, which is used to assess the likelihood of aggressive prostate cancer before a patient undergoes biopsy. In 2025, this test generated $27.1 million in revenue.
The Burlington, North Carolina-based company expects the acquired business to generate approximately $250 million in revenue during the first year following the transaction's completion.
The transaction is subject to regulatory approval and other closing conditions. Neither party disclosed the expected closing date.
Miami-based Opko stated that the sale will optimize its operations and allow it to focus on its biopharmaceutical business, which includes Rayaldee, its FDA-approved kidney disease treatment.
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