OPKO Health CEO Dr. Phillip Frost visited Jim Cramer on Mad Money September 25, 2015, to explain the recent acquisition of Bio-Reference Laboratories and the impact it expects to have on our overall business.
As Dr. Frost explained:
“This is probably the best, and most interesting acquisition I have ever made. First of all we realized a 14% dilution in our equity with this acquistion, what did we get? We got a billion dollars in revenue, approximately a hundred million dollars in operating income, and we have access to a salesforce and infrastructure that will help make our 4Kscore test one of the most important tests in the history of the diagnostics business. It has that potential.”
In August of 2015, OPKO Health, Inc. (NYSE: OPK) and Bio-Reference Laboratories, Inc. (NASDAQ: BRLI) announced the completion of the acquisition of Bio-Reference by OPKO. Shareholders of Bio-Reference received 2.75 shares of OPKO common stock for each share of Bio-Reference common stock.