OPKO Health closes $237.5M sale of BioReference clinical diagnostics assets to Labcorp

OPKO HEALTH, INC.

Labcorp acquired select BioReference diagnostics assets outside NY/NJ for $237.5M cash.
Acquired assets generate ~$100M annual revenue; OPKO retains NY/NJ and oncology/urology ($400M).
BioReference repaid $9.7M credit facility with JPMorgan; no prepayment penalty.
Pro forma cash increases to ~$273M; estimated gain on sale ~$122.6M.
OPKO Chairman cites transaction as key step toward profitability and focus on core testing.

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