OPKO Health (OPK) to Restructure After Asset Buyout by Labcorp Apr 1, 2024 13:01 EDT
OPKO Health, Inc. OPK recently entered into an agreement with Laboratory Corporation of America Holdings, Inc. LH or Labcorp. Per the agreement terms, select assets of BioReference Health, a wholly-owned subsidiary of OPKO Health, will be acquired by Labcorp.
The transaction, expected to close in the second half of 2024, is subject to customary closing conditions and applicable regulatory approvals.
The assets that will be acquired from OPKO Health currently generate approximately $100 million in annual revenues.
The latest announcement is expected to enable OPKO Health to strengthen its foothold in the biopharmaceutical space.
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