Labcorp to Acquire BioReference Health’s Cancer Testing Business for Nearly $225M

Nearly a year after Labcorp struck a deal for certain diagnostics assets from BioReference Health, the lab-testing giant is back to buy the firm’s cancer tests.

Labcorp is paying $192.5 million for the oncology testing business of BioReference, according to financial terms announced this past week. Another $32.5 million is tied to revenue targets for certain customer accounts. The acquisition spans BioReference’s oncology and oncology-related clinical testing services across the U.S. These services are marketed directly to physicians, geneticists, hospitals, clinics, correctional facilities, and other health facilities. Excluded from the deal are BioReference’s nationwide urology diagnostics services business as well as its core clinical testing services in New York and New Jersey.

Read more at MSN