Summary of BIO REFERENCE LABORATORIES INC

Item 1.01 Entry into a Material Definitive Agreement.

On December 31, 2012, Bio-Reference Laboratories, Inc. (the "Company") entered into an agreement with Florida Clinical Laboratory, Inc., a Florida corporation having its place of business in Melbourne, Florida ("FCL"), pursuant to which the Company purchased all issued and outstanding shares of capital stock of FCL for approximately $7,000,000, of which $1,000,000 is deferred for eighteen months with the first $500,000 to be paid after nine months, assuming certain conditions, more fully described, in the attached exhibit are met. $6,000,000 was paid in cash.

FCL was established in the year 2002 and had assets of $2,101,036 as of July 31, 2012.

FCL is a full service medical testing facility that provides services such as corporate employee drug screening, DNA paternity testing, infertility testing and specializes in skilled nursing facilities, assisted living and retirement communities.

The stock purchase transaction is described in more detail in the annexed FCL Stock Purchase Agreement (Exhibit 1.1).

The foregoing description is only a summary and is qualified in its entirety by reference to the FCL Stock Purchase Agreement, which is incorporated by reference into this Item 1.01.