Global law firm Greenberg Traurig, P.A. advised OPKO Health Inc., a Miami-based multinational biopharmaceutical and diagnostics company, in negotiating an agreement to sell select assets of its wholly owned subsidiary, BioReference Health, to Labcorp.
Labcorp will acquire BioReference Health's laboratory testing businesses focused on oncology and oncology-related clinical testing services across the United States. The purchase price is up to $225 million, including $192.5 million payable at closing and up to $32.5 million in an earnout based on performance, according to Labcorp’s press release.
The sale is subject to customary closing conditions and is anticipated to close in the second half of 2025.
The Greenberg Traurig team representing OPKO is led by Miami Corporate Practice Shareholders Drew M. Altman and Robert L. Grossman. Altman co-chairs the Miami Corporate Practice and Grossman is co-founder of the firm’s Israel Practice.
Other attorneys who assisted in the transaction include New York Intellectual Property & Technology Shareholder David M. Greenberg, New York Corporate Shareholder Stephen M. Pepper, Washington, D.C., Corporate Of Counsel Rebecca Tracy Rotem, Miami Corporate Associates Caitlin Calvo and Meryl Roux Jimenez, and Washington, D.C., Health Care & FDA Practice Associate Nicole Galli Baptista.
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