OPKO Health agrees to sell BioReference diagnostics to Labcorp for $722 million cash
OPKO Health announced an agreement to divest substantially all of its BioReference diagnostic operations to Labcorp, delivering $722 million in cash at closing with the amount to be adjusted according to the revenues of the business at the time of closing. The deal may also include up to $150 million of additional payments over ten years linked to Labcorp’s sales of the 4Kscore test and is pending regulatory approval. OPKO simultaneously raised $125 million through senior secured royalty notes, reported Q3 2026 revenue of $65.4 million (up 16% YoY), and narrowed its net loss from continuing operations to $35.5 million.
Why it matters
The cash infusion will enable OPKO to exit clinical laboratory services and concentrate on its biotech and global‑products segments, bolstering its balance sheet, which ended the quarter with $403.2 million in cash. Analysts note that removing the non‑core diagnostic business could improve future profitability.
Key facts
- 1OPKO entered into an agreement to sell substantially all of its BioReference diagnostic operations to Labcorp for $722 million in cash at closing, with the amount to be adjusted according to the revenues of the business at the time of closing. stocktitan.net
- 2The transaction may provide up to $150 million in additional cash over up to ten years based on Labcorp’s sales of the 4Kscore test. stocktitan.net
- 3OPKO issued $125 million of senior secured royalty notes as part of a financing arrangement. stocktitan.net
- 4Q3 2026 revenue was $65.4 million, representing a 16% year‑over‑year increase. stocktitan.net
- 5Net loss from continuing operations in Q3 2026 was $35.5 million, or $0.05 per share. stocktitan.net
- 6Cash on hand at the end of the quarter was $403.2 million. finance.yahoo.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.