Labcorp Acquires Millennium Health for $375M

Burlington, N.C.-based Labcorp has completed its acquisition of specialty laboratory Millennium Health for $375 million, according to a Labcorp news release. The deal splits into $245 million payable in cash at closing and up to $130 million in additional consideration contingent on specified future events.

Millennium Health specializes in medication monitoring and drug testing, helping clinicians make more informed decisions when treating patients, particularly in behavioral health, pain management, and substance use disorder settings. Folding those capabilities into Labcorp strengthens the national lab giant's specialty testing portfolio at a time when clinical demand for medication adherence and overdose-related monitoring remains high.

The acquisition fits a broader pattern of consolidation in diagnostics, where Labcorp and rival Quest Diagnostics have been steadily buying regional and specialty labs to expand reach and testing menus. For hospitals and provider groups, the deal means Millennium's services now sit under a larger reference lab network with national scale, though it also narrows the field of independent specialty testing options.