Labcorp agrees to buy Millennium Health and its drug monitoring business

MedDevice Startups Staff · 5 days ago · 2 min read · Via Labcorp release

Labcorp signed a definitive agreement to acquire Millennium Health, a specialty toxicology laboratory. The companies announced the deal October 23 and did not disclose financial terms. Closing depends on regulatory approvals and customary conditions, with no timeline given.

Millennium has run drug testing and monitoring for more than 15 years. Its reports tell clinicians whether a patient has recently used prescription or illicit drugs, which feeds treatment decisions in chronic pain, substance use disorder and mental health care. Andrea Throop, who heads toxicology at Labcorp, said the company intends to build on Millennium's reputation. Scott Walton stays in frame as Millennium's chief executive.

MedTech Dive counted this as Labcorp's third announced buyout in eight days. The company also agreed in October to buy certain BioReference testing assets for $722 million upfront. Diagnostics startups that planned to launch through an independent reference lab have fewer of them to approach each quarter.

Questions & Answers

What did Labcorp announce about Millennium Health?

On October 23, 2026 Labcorp announced a definitive agreement to acquire Millennium Health, an accredited specialty laboratory with more than 15 years in drug testing and monitoring. Financial terms were not disclosed.

What does Millennium Health do?

Millennium Health is a specialty toxicology laboratory. Its testing reports whether patients have recently used prescription or illicit drugs, which helps clinicians treat chronic pain, substance use disorders and mental health conditions.

When will the Labcorp acquisition of Millennium Health close?

Labcorp did not give a closing timeline. The October 23, 2026 agreement is subject to applicable regulatory approvals and customary closing conditions.

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