Labcorp Acquires BioReference Assets for Up to $225 Million

Labcorp has announced an agreement to acquire select assets of BioReference Health, a subsidiary of OPKO Health, for up to $225 million, with the deal expected to close in the second half of 2025. This acquisition includes BioReference's oncology-related clinical testing services and is anticipated to enhance Labcorp's position in cancer care by expanding its laboratory services and testing capabilities across the U.S. The transaction, which is projected to generate annual revenue between $85 million and $100 million, will involve an upfront payment of $192.5 million and potential performance-based earnouts. OPKO Health plans to focus on its core clinical testing services in New York and New Jersey, retaining its proprietary 4Kscore test, which generated significant revenue. Both companies expressed optimism that the deal will improve patient access to advanced laboratory services and strengthen their commitment to oncology care. Labcorp's executives emphasized that integrating BioReference Health's services aligns with their strategy to lead in oncology and enhance the healthcare community's value.