Mergers & Acquisitions ·
OPKO agrees to sell pathology lab business to LabCorp for $722M upfront plus up to $150M in earn-out
OPKOpko Health, Inc.
OPKO Health and its subsidiary BioReference entered into an Asset Purchase Agreement with Laboratory Corporation of America Holdings (LabCorp) to sell the clinical and anatomic pathology laboratory testing business. The transaction includes assets focused on women's health, urology, corrections, and the proprietary 4Kscore prostate cancer test. LabCorp will pay $722 million in cash at closing, subject to revenue adjustments, plus up to $150 million over ten years based on future sales of the 4Kscore test. The deal is not subject to financing conditions but requires Hart-Scott-Rodino clearance and customary closing conditions, with a termination fee of approximately $28.9 million if approvals fail. OPKO Health operates in the healthcare diagnostics and clinical laboratory services industry.