News, Analysis, Trends, Management Innovations for
Clinical Laboratories and Pathology Groups
Hosted by Robert Michel

News, Analysis, Trends, Management Innovations for
Clinical Laboratories and Pathology Groups
Hosted by Robert Michel
Sign In

For Second Time in Three Years, OPKO Health Will Acquire a Clinical Laboratory Company by Spending $1.47 Billion to Acquire Bio-Reference Laboratories

Jun 8, 2015 | Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Management & Operations

When completed, this acquisition means that the third largest public lab company in the United States will be owned by a multinational biopharmaceutical and diagnostics firm

It’s a big medical laboratory acquisition that has some experts on Wall Street shaking their heads. Last Thursday, it was announced that OPKO Health Inc. of Miami, Florida, would pay $1.47 billion to acquire Bio-Reference Laboratories Inc. (NASDAQ: BRLI), the nation’s third largest full-service clinical laboratory. OPKO (NYSE: OPK) is a multinational biopharmaceutical and diagnostics company in Miami, Florida.

No cash is involved in this purchase. OPKO will pay for the acquisition by exchanging 2.75 shares of OPKO common stock for each share of BRLI common stock. The deal puts a value of BRLI’s common stock of $52.58 per share, the companies announced.

The boards of directors of both companies have already approved the deal, which should close in the second half of the year.
(more…)

Bio-Reference Laboratories Acquires Hunter Laboratories as a Way to Enter California’s Competitive Clinical Laboratory Marketplace

Aug 14, 2013 | Laboratory Hiring & Human Resources, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing, Management & Operations

Acquisition gives BRLI a core laboratory facility in Northern California, along with Hunter Laboratories’ Medi-Cal license, 29 patient service centers, and its courier network

Yesterday’s announcement that BioReference Laboratories, Inc. (Nasdaq:BRLI), of Elmwood Park, New Jersey, had acquired a majority interest in Hunter Laboratories—a clinical laboratory company in Campbell, California—caught many medical laboratory executives by surprise.

It is a strategic move that gives Bio-Reference Laboratories an important beachhead for developing its laboratory testing business in the large and growing California market. This is the first time that BRLI will own and operate a licensed clinical-laboratory facility west of the Mississippi River. (more…)

;