Laboratory Corporation of America Holdings (NYSE:LH) entered into an Asset Purchase Agreement to acquire Select Assets of BioReference Health, LLC for approximately $240 million on March 27, 2024. If this Agreement is terminated by buyer or seller, then Buyer shall pay to Seller a termination fee equal to $9.5 million. The assets that Labcorp will be acquiring currently generate approximately $100 million in annual revenue.

The transaction is subject to customary closing conditions and applicable regulatory approvals, including under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The transaction is anticipated to close in the second half of 2024. Robert L. Grossman and Drew M. Altman of Greenberg, Traurig, PA acted as legal advisor to OPKO Health, Inc. Piper Sandler Companies (NYSE:PIPR) acted as financial advisor to OPKO Health, Inc. Parker Poe Adams & Bernstein LLP, Kilpatrick Townsend & Stockton LLP and Allen Hicks of Hogan Lovells US LLP acted as legal advisor to Laboratory Corporation of America Holdings.

Lazard, Inc. (NYSE:LAZ) acted as financial advisor to Laboratory Corporation of America Holdings.