Labcorp Holdings agreed to acquire selected assets of BioReference Health from OPKO Health in a deal worth up to $872 million. Labcorp will pay OPKO Health $722 million in cash at closing, subject to adjustments based on the acquired business's revenue. The agreement includes up to $150 million in additional payments tied to revenue from BioReference's 4Kscore Test.
Labcorp will acquire BioReference's clinical and women's health testing operations, urology and corrections testing businesses, and certain operational assets. The acquisition includes more than 80 patient service centers. The acquisition also includes the FDA-approved 4Kscore Test, a blood test that helps assess the likelihood of aggressive prostate cancer before a biopsy decision. Labcorp expects the acquired operations to generate approximately $250 million in revenue during the first year after closing. Labcorp held $141.8 million in cash and cash equivalents as of June 30, 2026.
Labcorp Diagnostics President Bryan Vaughn said the acquisition would expand access to specialized testing and strengthen Labcorp's clinical, women's health and urology services. Vaughn said Labcorp's national network would make advanced diagnostics, including the 4Kscore Test, available to more patients and health care providers. The companies expect Labcorp's national network to expand access to BioReference's diagnostic services.
The divestiture represents a strategic shift toward OPKO Health's core biopharmaceutical business. OPKO Health Chairman and CEO Phillip Frost said the transaction would simplify operations, free resources for biopharmaceutical development and help unlock shareholder value.
The transaction remains subject to regulatory approvals and customary closing conditions. Labcorp and OPKO Health will continue operating independently until closing, with no changes to existing services. Lazard is advising Labcorp. Piper Sandler is serving as OPKO Health's exclusive financial adviser.
William Blair views Labcorp's purchase multiple of less than three times forward sales as reasonable. William Blair analyst Jared Haase said the 4Kscore Test is particularly attractive because of established clinical value and potential for wider adoption through Labcorp's national network.
Labcorp shares traded higher Thursday after the acquisition agreement. OPKO Health shares surged nearly 8% following the announcement. Labcorp shares were up 1.79% at $323.01 at publication on Thursday, according to Benzinga Pro data. OPKO Health shares were up 17.88% at $1.61 at the same time, according to Benzinga Pro data.
Labcorp Agrees to Acquire BioReference Health from OPKO Health for Up to $872M
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Summary
Labcorp Agrees to Acquire BioReference Health from OPKO Health for Up to $872M, a deal boosted by insights from AI + crypto news platforms. Labcorp Holdings has agreed to acquire selected assets of BioReference Health from OPKO Health in a deal worth up to $872 million. The transaction includes $722 million in cash at closing, with an additional $150 million in potential payments tied to revenue from the 4Kscore Test. The acquisition covers clinical and women's health testing operations, urology and corrections testing businesses, and over 80 patient service centers. Labcorp expects the acquired operations to generate approximately $250 million in revenue in the first year post-closing. Both companies will continue operating independently until the deal closes, pending regulatory approvals and customary conditions. Real-world assets (RWA) news continues to highlight strategic moves in the healthcare sector.
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