Today Opko Health (OPK) announced that it would acquire Bio-Reference Laboratories (BRLI) for $1.47 billion dollars or $52.58 per share of common stock. Bio-Reference is the third largest full service clinical laboratory in the United States. It is well known for its genomics and genetic sequences in its laboratory. 

Under the terms of the deal, Shareholders of Bio-Reference Laboratories will received 2.75 shares of Opko common stock per each share of BRLI common stock. The transaction will close upon the approval of BRLI shareholders and other customary closing conditions. Opko will use the acquired company to increase sales for its 4kscore diagnostic test. 

This 4kscore diagnostic Test is a blood test that is used to asses a patient's personalized risk score for prostate cancer. In addition to a bigger sales force Opko will gain access to genome data, that can use it  for itself or make it available to other scientists to put it to good use. This improved sales force can be leveraged for 4kscore test that it should expand upon the company's reach. Opko currently has stated that about 900 urologists have used 4kscore test in a clinical setting. 

Shares of Opko are down 7% today while shares of Bio-Reference Laboratories are up 36% today on this deal.