OPK•OPKO Health agreed to sell select laboratory testing businesses and more than 80 patient centers to Labcorp for $722 million in cash, plus up to $150 million tied to revenue from a prostate cancer test.
Labcorp is buying select laboratory testing businesses and more than 80 patient centers from OPKO Health for $722 million in cash. The deal includes up to an additional $150 million milestone payment tied to revenue from the 4Kscore prostate cancer test, which Labcorp will acquire.
Evercore ISI analysts described the transaction as “a complementary tuck-in that adds specialty capabilities and regional density” to support Labcorp’s expansion into higher-growth testing areas. The companies did not provide an expected closing date.
