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Fly News Breaks for October 7, 2016
OPK
Oct 7, 2016 | 06:05 EDT
Jefferies analyst Brandon Couillard views Palmetto's no-coverage decision yesterday for OPKO Health's 4Kscore prostate cancer test as a "major setback." Palmetto is a Medicare administrative contractor. The analyst views 4Kscore as a key near-term growth driver for OPKO and believes the company's local Medicare administrative contractor Novitas will likely follow suit. Without Medicare, 4K's commercial pathway from here is unclear, Couillard tells investors in a research note. He expects OPKO shares to trade lower on renewed reimbursement concerns. The analyst has a Hold rating on the name.
News For OPK From the Last 2 Days
OPK
Mar 28, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
OPK
Mar 28, 2024 | 08:03 EDT
Labcorp (LH) and OPKO Health (OPK) announce that they have entered into an agreement for Labcorp to acquire select assets of BioReference Health, a wholly owned subsidiary of OPKO Health. Through this transaction, Labcorp will acquire BioReference Health's laboratory testing businesses focused on clinical diagnostics and reproductive and women's health across the United States outside of New York and New Jersey. This transaction includes patient service centers and certain customer contracts and operating assets. BioReference Health will continue to offer oncology and urology diagnostic services nationwide, as well as maintain its full operations in New York and New Jersey. When complete, the transaction is expected to provide patients, physicians and customers with greater access to Labcorp's comprehensive, high-quality laboratory services, scientific expertise and expanded testing capabilities in key regions across the country. The assets that Labcorp will be acquiring currently generate approximately $100M in annual revenue. The purchase price for the transaction is $237.5M. The proposed acquisition meets Labcorp's strategic and financial criteria. The transaction is subject to customary closing conditions and applicable regulatory approvals, including under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The transaction is anticipated to close in the second half of 2024.