Labcorp Completes Acquisition of Select Assets of BioReference Health's Diagnostics Business from OPKO Health
Labcorp (NYSE: LH) has completed the acquisition of select assets from BioReference Health, a subsidiary of OPKO Health (Nasdaq: OPK), for $237.5 million. The deal includes BioReference Health's laboratory testing businesses in clinical diagnostics and reproductive and women's health outside of New York and New Jersey, generating approximately $100 million in annual revenue. This acquisition aims to enhance Labcorp's laboratory services network and expand access to its clinical services.
The transaction is expected to provide patients, physicians, and customers with greater access to Labcorp's comprehensive laboratory services and expanded testing capabilities. OPKO Health views this sale as a strategic move to improve efficiencies and enhance productivity of BioReference Health's operations, focusing on their core clinical diagnostics in New York and New Jersey and higher value testing segments.
Labcorp (NYSE: LH) ha completato l'acquisizione di alcuni attivi selezionati da BioReference Health, una sussidiaria di OPKO Health (Nasdaq: OPK), per 237,5 milioni di dollari. L'accordo include le attività di laboratorio in diagnostica clinica e salute riproduttiva e femminile di BioReference Health al di fuori di New York e del New Jersey, generando circa 100 milioni di dollari di fatturato annuo. Questa acquisizione mira a potenziare la rete dei servizi di laboratorio di Labcorp e ad espandere l'accesso ai suoi servizi clinici.
Si prevede che la transazione fornirà a pazienti, medici e clienti un accesso maggiore ai servizi di laboratorio completi di Labcorp e a capacità di test ampliati. OPKO Health considera questa vendita come una mossa strategica per migliorare l'efficienza e aumentare la produttività delle operazioni di BioReference Health, concentrandosi sulla loro diagnostica clinica principale a New York e nel New Jersey e su segmenti di test di maggiore valore.
Labcorp (NYSE: LH) ha completado la adquisición de selectos activos de BioReference Health, una subsidiaria de OPKO Health (Nasdaq: OPK), por 237,5 millones de dólares. El acuerdo incluye los negocios de pruebas de laboratorio de BioReference Health en diagnósticos clínicos y salud reproductiva y femenina fuera de Nueva York y Nueva Jersey, generando aproximadamente 100 millones de dólares en ingresos anuales. Esta adquisición tiene como objetivo mejorar la red de servicios de laboratorio de Labcorp y expandir el acceso a sus servicios clínicos.
Se espera que la transacción brinde a pacientes, médicos y clientes un mayor acceso a los completos servicios de laboratorio de Labcorp y capacidades de pruebas ampliadas. OPKO Health ve esta venta como un movimiento estratégico para mejorar la eficiencia y aumentar la productividad de las operaciones de BioReference Health, enfocándose en su diagnóstico clínico central en Nueva York y Nueva Jersey y en segmentos de pruebas de mayor valor.
랩코프(Labcorp)(NYSE: LH)는 OPKO 헬스(Nasdaq: OPK)의 자회사인 바이오레퍼런스 헬스(BioReference Health)로부터 선택된 자산을 2억3750만 달러에 인수했다고 발표했습니다. 이번 거래에는 뉴욕과 뉴저지 외 지역의 바이오레퍼런스 헬스의 임상 진단 및 생식 및 여성 건강 실험실 테스트 사업이 포함되며, 연간 약 1억 달러의 수익을 창출하고 있습니다. 이번 인수는 랩코프의 실험실 서비스 네트워크를 강화하고 임상 서비스에 대한 접근성을 확장하는 것을 목표로 하고 있습니다.
이번 거래는 환자, 의사 및 고객에게 랩코프의 포괄적인 실험실 서비스 및 확장된 테스트 기능에 대한 더 큰 접근을 제공할 것으로 예상됩니다. OPKO 헬스는 이 판매를 바이오레퍼런스 헬스 운영의 효율성을 개선하고 생산성을 높이기 위한 전략적 조치로 보고 있으며, 뉴욕과 뉴저지에서의 핵심 임상 진단 및 고부가 가치 테스트 세그먼트에 집중하고 있습니다.
Labcorp (NYSE: LH) a finalisé l'acquisition d'actifs sélectionnés de BioReference Health, une filiale d'OPKO Health (Nasdaq: OPK), pour 237,5 millions de dollars. L'accord comprend les activités de tests de laboratoire de BioReference Health dans le domaine de la diagnostique clinique et de la santé reproductive et féminine en dehors de New York et du New Jersey, générant environ 100 millions de dollars de chiffre d'affaires annuel. Cette acquisition vise à améliorer le réseau de services de laboratoire de Labcorp et à élargir l'accès à ses services cliniques.
La transaction devrait offrir aux patients, aux médecins et aux clients un meilleur accès aux services de laboratoire complets de Labcorp et à des capacités d'analyse étendues. OPKO Health considère cette vente comme un mouvement stratégique pour améliorer l'efficacité et accroître la productivité des opérations de BioReference Health, en se concentrant sur leur diagnostique clinique de base à New York et au New Jersey, ainsi que sur des segments de tests à plus forte valeur ajoutée.
Labcorp (NYSE: LH) hat die Akquisition ausgewählter Vermögenswerte von BioReference Health, einer Tochtergesellschaft von OPKO Health (Nasdaq: OPK), für 237,5 Millionen Dollar abgeschlossen. Die Vereinbarung umfasst die Labortestgeschäfte von BioReference Health in klinischer Diagnostik und reproduktiver sowie Frauengesundheit außerhalb von New York und New Jersey, die jährlich etwa 100 Millionen Dollar an Einnahmen generiert. Diese Akquisition zielt darauf ab, das Netzwerk der Labordienstleistungen von Labcorp zu erweitern und den Zugang zu seinen klinischen Dienstleistungen auszubauen.
Die Transaktion wird voraussichtlich Patienten, Ärzten und Kunden einen besseren Zugang zu den umfassenden Labordiensten von Labcorp sowie erweiterten Testmöglichkeiten bieten. OPKO Health betrachtet diesen Verkauf als strategischen Schritt zur Verbesserung der Effizienz und zur Steigerung der Produktivität der Operationen von BioReference Health, wobei der Fokus auf ihrer zentralen klinischen Diagnostik in New York und New Jersey sowie auf hochpreisigen Testsegmenten liegt.
- Acquisition expands Labcorp's clinical diagnostics footprint and testing capabilities
- Deal adds approximately $100 million in annual revenue to Labcorp
- Enhances patient access to Labcorp's comprehensive laboratory services
- Allows OPKO Health to focus on core diagnostics and higher value testing segments
- Labcorp incurs $237.5 million in acquisition costs
- Potential integration challenges and costs associated with merging operations
Insights
The acquisition of BioReference Health's assets by Labcorp for
For OPKO Health, the sale allows them to streamline operations and focus on their core business in New York and New Jersey, which generates about
This acquisition reflects the ongoing consolidation trend in the diagnostics sector. Labcorp's expansion of its clinical diagnostics footprint should strengthen its competitive position against other major players like Quest Diagnostics. The deal's focus on reproductive and women's health is particularly noteworthy, as it's a growing market segment with increasing demand for specialized testing.
For patients and healthcare providers, this consolidation could lead to improved access to a wider range of tests and potentially faster turnaround times due to Labcorp's extensive network. However, it's important to monitor whether this consolidation affects pricing and competition in the long term, as fewer players in the market could potentially lead to higher costs for consumers.
Enhances Labcorp's laboratory services network and expands access to its clinical services
The acquisition includes BioReference Health's laboratory testing businesses focused on clinical diagnostics and reproductive and women's health in
"This transaction demonstrates our commitment to increase patient access to quality laboratory services, and we are thrilled to close an acquisition that will expand our clinical diagnostics footprint with assets that will immediately benefit from Labcorp's scale and expertise," said Mark Schroeder, Executive Vice President and President of Diagnostics Laboratories and Chief Operations Officer of Labcorp. "With the transaction complete, we are focused on integrating these assets as we drive better health outcomes for patients and advance our mission to improve health and improve lives."
"We believe the sale of these diagnostic assets is an important step in our efforts to improve efficiencies and enhance productivity of BioReference Health's operations and accelerate our progress to profitability," stated Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO. "Furthermore, it enables us to focus on our core clinical diagnostics in
Lazard served as Labcorp's financial advisor, and Hogan Lovells, Kilpatrick Townsend and Parker Poe served as legal counsel.
Piper Sandler & Co. served as OPKO's financial advisor, and Greenberg Traurig served as legal counsel.
About Labcorp
Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's more than 67,000 employees serve clients in approximately 100 countries, provided support for
About OPKO
OPKO Health, Inc. (Nasdaq: OPK) is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development, and commercialization expertise and novel and proprietary technologies. For more information, visit www.opko.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements with respect to the (a) the anticipated impact of the transaction including expanding patient access to laboratory services, scientific expertise and testing capabilities, (b) integration plans and (c) the anticipated benefits of the transaction for Labcorp and OPKO. Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond each party's control, including without limitation (i) the successful integration of the transaction, (ii) potential difficulties with employee retention; (iii) the trading price of each of Labcorp and OPKO's stock, competitive actions and other unforeseen changes and general uncertainties in the marketplace; (iv) changes in government regulations; (v) customer purchasing decisions, including changes in payer regulations or policies; (vi) other adverse actions of governmental and third-party payers; (vii) changes in testing guidelines or recommendations; (viii) federal, state, and local government responses to the COVID-19 pandemic and the volume of COVID-19 Testing performed; (ix) the impact of global geopolitical events; (x) the effect of public opinion on each party's reputation; (xi) adverse results in material litigation matters, if applicable; (xii) the impact of changes in tax laws and regulations; (xiii) failure to maintain or develop customer relationships; (xiv) failure in information technology, systems or data security; (xv) personnel costs; (xvi) inflation, and (xvii) increased competition.. These factors, in some cases, have affected and in the future (together with other factors) could affect each of Labcorp's and OPKO's ability to implement their respective business strategies, and actual results could differ materially from those suggested by these forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of the forward-looking statements.
Each of Labcorp and OPKO has no obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in the most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q, including in each case under the heading RISK FACTORS, and in other filings with the SEC by each of Labcorp and OPKO. The information in this press release should be read in conjunction with a review of each of Labcorp's and OPKO's filings with the SEC, including the information in each of Labcorp's and OPKO's most recent Annual Report on Form 10-K, and subsequent quarterly reports on Form 10-Q, under the heading "MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS".
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SOURCE Labcorp Holdings Inc
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