Labcorp to Acquire Key BioReference Health Assets in $722M Deal

Labcorp, a global leader in laboratory services, has entered into a definitive agreement with OPKO Health Inc. to acquire select assets of BioReference Health, LLC, OPKO’s wholly owned laboratory testing subsidiary, in a transaction valued at $722 million.

Under the terms of the agreement, Labcorp will pay $722 million in cash at closing, subject to customary adjustments based on business revenues at the time of the transaction. The deal also includes the potential for up to $150 million in additional earnout payments tied to future revenue generated by the 4Kscore Test. Based on current projections, Labcorp expects the acquired business to generate approximately $250 million in revenue during its first year following close.

The acquisition will add BioReference Health’s laboratory testing operations in key specialty areas, including clinical diagnostics, women’s health, urology, and correctional healthcare services. Labcorp will also gain certain operational assets, including more than 80 patient service centers, further expanding its national footprint and patient access network.

A significant component of the transaction is the acquisition of the proprietary 4Kscore Test, an FDA-approved blood test designed to help physicians assess the likelihood of aggressive prostate cancer before making a biopsy decision. Labcorp said the addition of the test to its portfolio will help expand patient access to advanced prostate cancer risk assessment nationwide.

The transaction remains subject to regulatory approvals and customary closing conditions. Upon completion, both companies expect the deal to enhance access to diagnostic services and improve healthcare delivery through broader testing capabilities, expanded patient service infrastructure, and advanced digital and analytics tools.

“This acquisition strengthens our ability to deliver affordable, high-quality, specialized diagnostic services to more patients and providers around the country,” said Bryan Vaughn, Executive Vice President and President of Diagnostics at Labcorp. “By expanding our clinical, women’s health, urology and corrections testing capabilities and broadening access to innovative diagnostics such as the FDA-approved 4Kscore Test, we can help providers make more informed decisions, improve patient care and increase access to the comprehensive laboratory services people need to live healthier lives.”

For OPKO, the transaction supports a strategic shift toward its core biopharmaceutical business.

“This transaction will allow OPKO to streamline operations and focus our resources on our biopharmaceutical business,” said Phillip Frost, M.D., Chairman and CEO of OPKO. “Labcorp’s national scale and capabilities will broaden patient and provider access to BioReference’s 4Kscore Test to many more patients across the country. We believe this transaction is an important catalyst to further unlock additional value for our shareholders.”

The deal positioons Labcorp to further strengthen its specialty testing offerings while providing OPKO with additional resources to advance its pharmaceutical pipeline and long-term growth strategy.

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