OPKO HEALTH, INC. (OPK): M&A transaction — 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.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

OPKO HEALTH, INC. completed a disposition involving Laboratory Corporation of America Holdings for approximately $237,500,000 in cash (closed 2024-09-16).

Action: disposition
Counterparty: Laboratory Corporation of America Holdings
Consideration: approximately $237,500,000 in cash
Closing: 2024-09-16

Exact text from the filing

On September 16, 2024, the parties to the Purchase Agreement consummated the Transaction, and the Company received approximately $237,500,000 in cash, including escrow, subject to certain adjustments as set forth in the Purchase Agreement.

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OPKO HEALTH, INC. filing history →

Source: SEC EDGAR

accession 0001437749-24-029310

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