Labcorp Agrees to Acquire Opko Health BioReference Assets for Up to $872M

Labcorp $LH agreed on Thursday to acquire select laboratory testing assets from Opko Health's $OPK BioReference Health subsidiary in a $722M cash deal, with a potential additional payment of up to $150M tied to revenue from a prostate cancer test. Shares of Miami-based Opko Health rose 20% in premarket trading following the announcement, as the company stated the divestiture will streamline its operations and sharpen its focus on its biopharmaceutical division, including its FDA-approved kidney disease therapy Rayaldee. Under the agreement, Labcorp will acquire BioReference Health's clinical diagnostics, women's health, urology, and corrections testing businesses, along with more than 80 patient service centers and certain operating assets. The transaction also transfers ownership of BioReference's 4Kscore test, which assesses the likelihood of aggressive prostate cancer prior to a biopsy and generated $27.1M in revenue in 2025. Burlington, North Carolina-based Labcorp expects the acquired operations to generate about $250M in revenue in the first year after the transaction closes, though the deal remains subject to regulatory clearance and other closing conditions with no expected closing date provided.