Labcorp agrees to buy BioReference assets for $722 million
LH
Labcorp and OPKO Health announced an agreement on October 15 for Labcorp to acquire selected BioReference Health assets. The price is $722 million in cash at closing, subject to a revenue-based adjustment, plus a potential earnout of up to $150 million.[1]
What the agreement covers
The assets include clinical and women’s health testing services, urology and corrections testing businesses, and certain operating assets, including more than 80 patient service centers. BioReference is an OPKO subsidiary.[1]
Labcorp forecasts approximately $250 million in business revenue in the first year after closing. The additional earnout depends on revenue from the 4Kscore Test. Regulatory approvals and customary closing conditions still apply.[1]
What matters for LH and OPK
For Labcorp, the question is whether the acquired operations can deliver the forecast revenue and justify the purchase price. For OPKO, the final proceeds depend on the closing adjustment and any earned contingent payment. The earnout should not be treated as guaranteed cash, and the revenue forecast is not a profit forecast.[1]
LH insider trading activity
In open-market trades dated in the last 90 days, no insider bought and 4 insiders sold $2.9M, $2.6M of it under preset trading plans, per Form 4 filings.
- Adam H. Schechter (President & CEO) sold 4,669 shares for $1.5M under a preset plan, last filed Aug 12.
- Kerrii B. Anderson (Director) sold 3,000 shares for $954K under a preset plan, last filed Aug 18.
- Richelle P. Parham (Director) sold 1,078 shares for $389K, last filed Nov 3.
- Bryan T. Vaughn (EVP and President, Diagnostics) sold 306 shares for $108K under a preset plan, last filed Nov 5.
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LH 13F fund activity
In 13F filings for the quarter ended Jun 30, 2026, 4 funds we track made a large change in LH: 3 opened a position or grew one by half or more, and 1 cut one by half or more.
- Squarepoint Ops LLC added 118,273 shares.
- Millennium Management LLC added 103,470 shares.
- Marshall Wace, LLP added 92,767 shares.
- Gotham Asset Management, LLC cut 91,494 shares.
