Oct 15 (Reuters) – Laboratory operator Labcorp said on Thursday it will buy some assets from Opko Health’s subsidiary in a $722 million cash deal, with a potential additional payment of up to $150 million tied to revenue from a prostate cancer test.
Shares of Opko Health were up 20% in premarket trading.
Here are some details:
• Under the agreement, Labcorp will acquire Opko’s BioReference Health laboratory testing operations, including its clinical diagnostics, women’s health, urology and corrections testing businesses
• Labcorp will gain more than 80 patient service centers and certain operating assets from the deal
• It will also get ownership of BioReference’s 4Kscore test, which is used to help assess the likelihood of aggressive prostate cancer before a patient undergoes a biopsy. The test brought in revenue of $27.1 million in 2025
• The Burlington, North Carolina-based company expects the acquired businesses to generate about $250 million in revenue in the first year after the transaction closes
• The deal requires regulatory clearance and other closing conditions. The companies did not provide an expected closing date
• Miami-based Opko said the sale will streamline its operations and sharpen its focus on its biopharmaceutical business, which includes its FDA-approved kidney disease therapy Rayaldee
(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Devika Syamnath)
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