Labcorp Completes $225 Million Acquisition of BioReference Health's Oncology Testing Assets
核心洞察
Labcorp has completed its acquisition of BioReference Health (搜索)'s oncology and oncology-related clinical testing services across the United States for up to $225 million.
The transaction includes $192.5 million paid at closing and up to $32.5 million in performance-based earnout payments.
BioReference Health (搜索) retains its core clinical testing operations in New York and New Jersey, plus its 4Kscore® Test (搜索) franchise, which generated approximately $300 million in revenue for 2024.
Labcorp has completed its acquisition of select assets from BioReference Health (搜索)'s oncology testing business for up to $225 million, marking a significant expansion of the laboratory giant's cancer diagnostics capabilities. The transaction, announced September 15, 2025, includes BioReference Health's laboratory testing businesses focused on oncology and oncology-related clinical testing services across the United States.
Transaction Details
The purchase price structure includes $192.5 million paid at closing and up to $32.5 million in performance-based earnout payments. The acquisition encompasses certain customer accounts and other operating assets from BioReference Health (搜索), a wholly owned subsidiary of OPKO Health (搜索), Inc.
"With this acquisition, we are providing patients, physicians and customers with expanded access to Labcorp's high-quality laboratory services, scientific expertise and comprehensive testing capabilities," said Mark Schroeder, President, Labcorp Diagnostics and Chief Operations Officer. "Bringing BioReference Health (搜索)'s oncology and clinical testing into our portfolio deepens our commitment to advancing cancer care and extends our leadership in oncology."
Strategic Positioning
For OPKO Health (搜索), the divestiture allows the company to focus on its remaining core operations. "The closing of this transaction marks a significant milestone for BioReference Health (搜索)," stated Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO. "By focusing on our core clinical testing operations and the continued growth of our 4Kscore® Test (搜索) franchise, we are better positioned to optimize our test menu and achieve sustainable profitability for this subsidiary."
BioReference Health (搜索)'s continuing operations include its core clinical testing operations in the New York and New Jersey region and its 4Kscore® Test (搜索) franchise, which represented approximately $300 million in revenue for 2024. OPKO intends to utilize a portion of the proceeds to fund its recently expanded share repurchase authorization.
Market Context
The acquisition reinforces Labcorp's position in the diagnostics market, where the company's nearly 70,000 employees serve clients in approximately 100 countries. Labcorp provided support for more than 75% of the new drugs and therapeutic products approved in 2024 by the FDA and performs more than 700 million tests annually for patients worldwide.
The transaction was supported by financial and legal advisors on both sides. Lazard served as Labcorp's financial advisor, with Hogan Lovells and Kilpatrick Townsend providing legal counsel. Piper Sandler & Co. served as OPKO Health (搜索)'s financial advisor, with Greenberg Traurig as legal counsel.