Labcorp Enters into Agreement with OPKO Health to Acquire Select Assets of BioReference Health

Acquisition will expand access to clinical laboratory services, including a broad specialty testing menu for patients and providers nationwide

BURLINGTON, N.C. and MIAMI, Fla., Oct. 15, 2026 /PRNewswire/ -- Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, and OPKO Health, Inc. (Nasdaq: OPK), a multinational biopharmaceutical company, announced today that they have entered into an agreement for Labcorp to acquire select assets of BioReference Health, LLC, a wholly owned subsidiary of OPKO Health.

Through this transaction, Labcorp will acquire BioReference Health's laboratory testing businesses focused on clinical and women's health testing services, urology, corrections and certain operational assets, including over 80 additional patient service centers. As part of the agreement, Labcorp will also acquire BioReference Health's proprietary 4Kscore^® Test, an FDA-approved blood test that helps predict the likelihood of finding aggressive prostate cancer before a biopsy decision, making this important test more broadly available to patients across the country.

When complete, the transaction is expected to provide patients, physicians and customers with greater access to Labcorp's comprehensive, high-quality laboratory services, including a broad specialty testing menu, convenient patient service center network and robust data analytics and digital tools.

"This acquisition strengthens our ability to deliver affordable, high-quality, specialized diagnostic services to more patients and providers around the country," said Bryan Vaughn, Executive Vice President and President of Diagnostics at Labcorp. "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."

"This transaction will allow OPKO to streamline operations and focus our resources on our biopharmaceutical business," said Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO. "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."

The purchase price for the transaction is $722 million in cash at closing, subject to an upward or downward adjustment (if any) based on closing business revenues, and up to an additional $150 million in an earnout based on revenue from the 4Kscore Test. Labcorp expects the business revenue to be approximately $250 million in the first year after close, based on Labcorp's current post-closing forecasts.

This transaction is subject to regulatory approvals and customary closing conditions. Until the transaction closes, there will be no changes to operations or services, and both companies will continue to operate independently.

Lazard is serving as Labcorp's financial advisor, Hogan Lovells Cadwalader US LLP is serving as lead transaction counsel and Parker Poe is serving as real estate counsel.

Piper Sandler & Co. is serving as OPKO's exclusive financial advisor, and Greenberg Traurig P.A. is serving 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 nearly 71,000 employees serve clients in approximately 100 countries, provided support for more than 85% of the new drugs and therapeutic products approved by the FDA in 2025 and performed more than 750 million tests for patients around the world. Learn more at www.labcorp.com.

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 (a) the anticipated impact of the transaction including expanding access to comprehensive, high-quality laboratory services, (b) increased access to testing services and expanded testing capabilities including with respect to the 4Kscore Test, (c) anticipated timing to closing, final purchase price, post-closing revenue, and earnout for the 4Kscore Test, (d) other anticipated potential benefits of the acquisition to Labcorp and OPKO Health, and (e) required regulatory approvals and customary closing conditions.

Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the control of Labcorp or OPKO Health. These factors, in some cases, have affected and in the future (together with other factors) could affect the ability of Labcorp or OKPO Health to implement its respective business strategy, 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.

Neither Labcorp nor OPKO Health has any 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 each of Labcorp's and OPKO Health's most recent Annual Report on Form 10-K and subsequent Forms 10-Q, including in each case under the headings RISK FACTORS and MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, and in each of Labcorp's and OPKO Health's other filings with the SEC.

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SOURCE Labcorp Holdings Inc