Back in 2015, OPKO Health (OPK) acquired medical diagnostic testing company BioReference Laboratories (BRL) in a $1.5 billion all-share offer.
While seen by some at the time as non-synergistic, it is this deal that will propel OPK's share price higher in the short to medium term due to our current black swan pandemic event.
BioReference is the third-largest diagnostic testing company in the US and earns over 80% of OPKO's revenues. Since COVID-19 hit the country, BRL has been expanding its sample collection locations and expanding its lab capacity to process those samples.