OPKO Health Names Dr. Gregory Henderson President of Bio-Reference Laboratories

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MIAMI--(BUSINESS WIRE)-- OPKO Health, Inc. (NYSE:OPK) announces the appointment of Gregory Henderson, M.D., Ph.D., as President of Bio-Reference Laboratories (BRL), effective immediately. Dr. Henderson succeeds Marc Grodman, M.D., who is resigning, having served as Chairman, President and CEO of BRL since founding the company in 1981. OPKO acquired BRL in August 2015. Dr. Grodman will continue as a special advisor to OPKO and BRL to ensure a smooth transition.

“Dr. Grodman built a billion-dollar clinical diagnostic lab company and a strong legacy of innovating and developing new tests, all while operating in a highly competitive environment,” said Phillip Frost, M.D., Chairman and CEO of OPKO Health. “We are building upon Dr. Grodman’s legacy and moving in directions that will generate a new era of strong growth and position BRL to participate further in health and wellness decisions. Dr. Henderson brings to BRL the ideal combination of technical expertise and entrepreneurial and management experience. We look forward to supporting his leadership as BRL accelerates growth from core traditional and genetic testing services, and commercializes important new products, such as the 4Kscore™ test for prostate cancer.”

A second-generation pathologist, Dr. Henderson founded and sold two large regional clinical lab businesses, including NextWave Diagnostic Laboratory in Wilmington, N.C. and Pacific Pathology Partners in Seattle. He has been a practicing pathologist for more than 20 years and joins BRL from the Mount Sinai Health Network, where he was the Vice Chairman of Pathology Outreach and Affiliate Laboratory Affairs.

Commenting on his new position, Dr. Henderson said, “As part of OPKO, Bio-Reference Laboratories is uniquely positioned to catalyze the transformation of healthcare in the U.S. by delivering high-value, physician-interpreted diagnostic knowledge, innovative new testing to clinicians and patients and targeted therapeutics from our pharmaceutical development group. Testing that provides clinical guidance and risk stratification, minimizes invasive procedures and bends the healthcare cost curve is the future of laboratory medicine.”

“Our 4Kscore prostate cancer risk stratification test, which has been demonstrated in a study to reduce prostate biopsies by more than 60% and lower attendant costs and patient risk, is the first of such tests and is our template and roadmap,” he added. “I am looking forward to working with the team at OPKO and BRL as we set a course to transform the diagnostic industry and radically improve patient care.”

About Dr. Henderson

Dr. Henderson is a board-certified anatomic and clinical pathologist with clinical expertise in breast and gynecologic diseases, and has a nearly 20-year track record of successful founding and growth of regional laboratories. He served as Vice Chairman and Director of Anatomic Pathology at the Ochsner Health System in New Orleans during Hurricane Katrina and for several years after the disaster. His most recent role has been Vice Chairman of Pathology and Director of Laboratory Outreach at the Mount Sinai Health Network in New York, one of the largest hospital-based laboratory outreach programs in the U.S.

A native of New Orleans, Dr. Henderson received a B.S. in biochemistry from Tulane University. He received his M.D. and a Ph.D. in immunology from Vanderbilt University and was a NIH Medical Scientist Training Program fellow. His specialty training in laboratory medicine was at the University of Utah ARUP laboratories, and his anatomic pathology training was at Johns Hopkins Hospital. His specialty fellowship training in breast, gynecologic and oncologic pathology was also at Vanderbilt University.

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 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. 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 launched by partner TESARO, IV formulation in Phase 3). Our biologics business includes hGH-CTP, a once-weekly human growth hormone injection (in Phase 3 and partnered with Pfizer), and a long-acting Factor VIIa drug for hemophilia (in Phase 2a). We also have production and distribution assets worldwide, multiple strategic investments and an active business development strategy. More information is available at www.opko.com.

About Bio-Reference Laboratories, Inc.

Bio-Reference Laboratories is one of the largest and fastest growing full-service diagnostic laboratories in the world, providing clinical testing services to physician offices, clinics, hospitals, long-term care facilities and employers while also advancing drug discovery and development with disease foundations, academic and pharmaceutical partners. Bio-Reference's comprehensive testing capabilities and expertise spans molecular diagnostics, anatomical pathology, women's health, oncology and rare disease genetics. Bio-Reference Laboratories, and its subsidiaries, has an international presence in more than 50 countries. For more information, visit www.bioreference.com.

Forward-looking Statements

This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning, including statements regarding our ability to generate or accelerate growth at Bio-Reference, our ability to transition and transform the diagnostics industry or improve patient care through Bio-Reference, our ability to commercialize important new products, Bio-Reference’s or OPKO’s ability to deliver high-value or innovative new testing to clinicians and patients, expectations regarding the commercial success of our 4Kscore test or the ability of our 4Kscore test to reduce prostate biopsies or reduce attendant costs and patient risks, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described in our filings with the Securities and Exchange Commission, as well as the risks inherent in funding, developing and obtaining regulatory approvals of new, commercially-viable and competitive products and treatments. In addition, forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, challenges relating to integration of Bio-Reference, including management changes, the regulatory process for new products and indications, manufacturing issues that may arise, patent positions and litigation, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

For OPKO Health:
Media
Rooney & Associates
Terry Rooney, 212-223-0689
trooney@rooneyco.com
or
Marion Janic, 212-223-4017
mjanic@rooneyco.com
Investors
LHA
Anne Marie Fields, 212-838-3777
afields@lhai.com
or
Bruce Voss, 310-691-7100
bvoss@lhai.com

Source: OPKO Health, Inc.

Released March 15, 2016