By Colin Kellaher
Labcorp Holdings has signed a deal to buy certain assets of OPKO Health's BioReference Health unit for up to $225 million.
Labcorp on Tuesday said it will pay $192.5 million at closing for BioReference's laboratory testing businesses, which is focused on oncology and oncology-related clinical testing services across the U.S.
The Burlington, N.C., provider of laboratory services said the deal includes a performance-based earnout of up to $32.5 million, adding that the acquired assets generate $85 million to $100 million in annual revenue.
Miami-based biopharmaceutical and diagnostics company OPKO said BioReference's remaining operations will include its core clinical testing operations in the New York and New Jersey region and its 4Kscore franchise, which represented about $300 million in revenue for 2024.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 11, 2025 07:50 ET (11:50 GMT)
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