OPKO Health, Inc. To Acquire Bio-Reference Laboratories - Quick Facts

(RTTNews) - OPKO HEALTH, INC. (OPK) and Bio-Reference Laboratories, Inc. (BRLI) announced that they have signed a definitive merger agreement under which OPKO will acquire Bio-Reference Laboratories.

As per agreement terms, which has been approved by the Boards of Directors of both companies, holders of BRLI common stock will receive 2.75 shares of OPKO common stock for each share of BRLI common stock. Based on a closing price of $19.12 per share of OPKO common stock on June 3, 2015, the transaction is valued at about $1.47 billion, or $52.58 per share of BRLI common stock.

The companies expect the transaction to be completed during the second half of 2015.

OPKO intends to leverage the national marketing, sales, and distribution resources of Bio-Reference Laboratories to enhance sales of its 4Kscore test, a blood test that provides a patient's specific personalized risk score for aggressive prostate cancer as well as other OPKO diagnostic products under development.

OPKO intends to allow laboratory operations to continue seamlessly but with enhancement from OPKO's pipeline of diagnostic products. The current diagnostic services of OPKO will be merged with the Bio-Reference Laboratories operations throughout the country. Bio-Reference Laboratories' national presence will add valuable distribution capability to OPKO's diagnostic services.