Labcorp has agreed to acquire select BioReference Health assets from OPKO Health in a transaction that includes $722 million in cash at closing and a potential $150 million earnout tied to revenue from the 4Kscore Test.
The transaction will expand Labcorp’s clinical laboratory operations across several specialty areas, including women’s health, urology, corrections, and broader clinical testing services. Labcorp will also acquire more than 80 BioReference patient service centers and certain related operational assets.
The $722 million upfront purchase price is subject to a potential upward or downward adjustment based on the acquired business’s revenues at closing. The additional earnout could bring the total consideration to as much as $872 million if specified revenue targets associated with the 4Kscore Test are achieved.
Labcorp expects the acquired businesses to generate approximately $250 million in revenue during the first year following the transaction’s completion, based on its current post-closing forecasts.
A major component of the deal is BioReference Health’s proprietary 4Kscore Test, an FDA-approved blood test designed to help predict the likelihood of identifying aggressive prostate cancer before a biopsy decision. Labcorp plans to use its national laboratory infrastructure to make the test more broadly available to patients and healthcare providers across the country.
The companies said the combination will also give customers greater access to Labcorp’s specialty testing menu, patient service center network, data analytics capabilities, and digital tools.
For OPKO, the transaction is designed to streamline operations and allow the company to focus resources more heavily on its biopharmaceutical business. BioReference Health is currently a wholly owned OPKO subsidiary.
The transaction remains subject to regulatory approvals and customary closing conditions. Labcorp and OPKO will continue operating independently until the acquisition is completed, with no changes to existing operations or services before closing.
Lazard is serving as Labcorp’s financial advisor. Hogan Lovells Cadwalader US is serving as lead transaction counsel, while Parker Poe is advising on real estate matters.
Piper Sandler is serving as OPKO’s exclusive financial advisor, and Greenberg Traurig is serving as legal counsel.
Labcorp employs nearly 71,000 people and serves customers in approximately 100 countries. The company said it performed more than 750 million tests for patients globally and supported more than 85% of new drugs and therapeutic products approved by the FDA in 2025.
KEY QUOTES:
“This acquisition strengthens our ability to deliver affordable, high-quality, specialized diagnostic services to more patients and providers around the country. By expanding our clinical, women’s health, urology and corrections testing capabilities and broadening access to innovative diagnostics such as the FDA-approved 4Kscore Test, we can help providers make more informed decisions, improve patient care and increase access to the comprehensive laboratory services people need to live healthier lives.”
Bryan Vaughn, Executive Vice President And President Of Diagnostics At Labcorp
“This transaction will allow OPKO to streamline operations and focus our resources on our biopharmaceutical business. Labcorp’s national scale and capabilities will broaden patient and provider access to BioReference’s 4Kscore Test to many more patients across the country. We believe this transaction is an important catalyst to further unlock additional value for our shareholders.”
Phillip Frost, M.D., Chairman And Chief Executive Officer Of OPKO Health
