OPKO Health sells BioReference clinical diagnostics business to LabCorp for ~$237.5M

OPKO HEALTH, INC.

Asset Purchase Agreement with LabCorp for $237.5M cash, excluding oncology/urology and NY/NJ operations.
Transaction includes transfer of certain BioReference employees; no financing condition required.
Closing subject to HSR clearance and customary conditions; 180-day outside date with potential extensions.
Termination fee payable by LabCorp in certain circumstances if regulatory clearance fails.
OPKO retains nationwide oncology/urology and all NY/NJ operations post-closing.

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

OPKO HEALTH, INC. entered into Asset Purchase Agreement with Laboratory Corporation of America Holdings valued at approximately $237,500,000 in cash (effective 2024-03-27).

Action: entry
Agreement: asset purchase
Counterparty: Laboratory Corporation of America Holdings
Value: approximately $237,500,000 in cash
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024, OPKO Health, Inc., a Delaware corporation (“ OPKO ”), its wholly owned subsidiary, BioReference Health, LLC (“ BioReference ” and together with OPKO, “ Seller ”), and Laboratory Corporation of America Holdings, a Delaware corporation (“ Buyer ”), entered into an Asset Purchase Agreement (the “ Purchase Agreement ”).

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OPKO HEALTH, INC. filing history →

Source: SEC EDGAR

accession 0001437749-24-009695

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