MedTech Dive March 12, 2025
Labcorp will acquire BioReference Health’s oncology diagnostics operations as the lab company works to expand in high-growth testing areas.
Dive Brief:
- Labcorp will pay up to $225 million to acquire the oncology diagnostics businesses of BioReference Health, a subsidiary of Opko Health, to expand its portfolio of tests used in cancer care.
- The deal, announced Tuesday, includes $192.5 million to be paid at closing and a payment of up to $32.5 million based on performance.
- The assets, including certain customer accounts, generate about $85 million to $100 million in annual revenue, according to the announcement. Labcorp expects the acquisition to be accretive to earnings in the first year after closing.
Dive Insight:
Labcorp has identified oncology as...
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