FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


JPMorgan Chase, OPKO Health Close $175MM Credit Facility

November 09, 2015, 07:14 AM
Filed Under: Healthcare
Related: JPMorgan Chase

OPKO Health, Inc. announced 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 world's 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-Reference’s earnings and balance sheet while lowering our overall cost of capital."

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 nation's 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.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.