Holland & Knight Closes $40 Million Acquisition for OPKO Health

MIAMI (January 4, 2012) — Holland & Knight recently helped Miami-based OPKO Health, Inc. complete a $40 million acquisition of Prost-Data and its affiliate OURLab, a clinical laboratory company. The price consisted of $9.4 million in cash and $30.6 million in stock. The deal closed in mid-December and represents OPKO's entry into the clinical laboratory services business. In the past, OPKO has focused primarily on biotechnology and pharmaceuticals.

OURLab is a Nashville-based CLIA laboratory with 18 phlebotomy sites throughout the United States. OPKO's acquisition will help OURLab expedite the development and introduction of other important tests with its novel technologies, including its 4Kscore prostate test.

Holland & Knight corporate partners Rod Bell and Danielle Price in Miami led the firm's representation of OPKO along with health care partner Jeff Mittleman in Boston, who handled various regulatory and licensing matters for the acquisition.