07:52 AM EDT, 03/11/2025 (MT Newswires) -- Labcorp Holdings ( LH ) has agreed to acquire certain assets of OPKO Health's ( OPK ) BioReference Health unit for up to $225 million, the companies said Tuesday.

The purchase price includes $192.5 million payable at closing and up to $32.5 million in earnout payments based on performance, the companies said.

Under the deal, Labcorp ( LH ) will acquire BioReference Health's oncology-related laboratory testing businesses and clinical testing services in the US, along with certain customer accounts and other operating assets, the companies said.

The assets being acquired currently generate about $85 million to $100 million in annual revenue and Labcorp ( LH ) said it expects the acquisition to be accretive to earnings in the first year.

The transaction is expected to close in the second half of 2025, the companies said.