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Opko Health Refinances Bio-Reference Laboratories Credit Facility

The following excerpt is from the company's SEC filing.

MIAMI, November 6, 2015

OPKO Health, Inc. (NYSE:OPK) today announced that it has successfully closed on a new five-year $175.0 million secured revolving credit facility with JPMorgan Chase. The new facility replaced Bio-Reference Laboratories previous $120.0 million secured revolving credit facility.

We are excited to enter into a partnership with one of the worlds premier banking institutions, JPMorgan Chase, commented Phillip Frost, MD, Chairman & CEO of OPKO. The improved terms will provide us with the ability to leverage Bio-References earnings and balance sheet while lowering our ov erall cost of capital.

About OPKO Health, Inc.

OPKO Health, Inc. is a diversified healthcare company that seeks to establish industry-leading positions in large, rapidly growing markets. Our diagnostics business includes Bio-Reference Laboratories, the nations third-largest clinical laboratory with a core genetic testing business and a 420-person sales force to drive growth and leverage new products, including the 4Kscore® prostate cancer test and the Claros®1 in-office immunoassay platform. Our pharmaceutical business features Rayaldee, a treatment for SHPT in stage 3-4 CKD patients with vitamin D insufficiency (March 29, 2016 PDUFA date) and VARUBI for chemotherapy-induced nausea and vomiting (oral formulation approved by FDA and pending launch by partner Tesaro, IV formulation in Phase 3). Our biologics business...