Opko Health Inc (OPK) just unveiled an update.
OPKO Health and its subsidiary BioReference have agreed to sell their clinical diagnostics and reproductive health lab testing business, excluding operations in New York and New Jersey, to LabCorp for approximately $237.5 million. This major transaction will see certain assets, liabilities, and employees transfer to the buyer, with standard legal provisions and conditions in place. The deal is subject to customary closing conditions and regulatory approvals, and does not hinge on financing. It also includes provisions against OPKO engaging in alternative transaction discussions, and a potential termination fee for regulatory clearance failures.
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