Great Point Partners III Sells MLM Medical Labs to Labcorp

Labcorp (LH) stock fell 4.3% to $307.43 after its 2026 Investor Day, where it reaffirmed revenue guidance of $14.71B-$14.83B and EPS growth of 8.5%-11.5%. The market expected a guidance raise, and the lack of upside led to profit-taking. Broader market declines also pressured the stock.

Great Point Partners sold MLM Medical Labs to Labcorp. MLM, which quadrupled revenue and EBITDA under Great Point, offers clinical lab services globally. Labcorp gains expanded infrastructure. Financial terms were not disclosed.

Labcorp (NYSE: LH) acquired MLM Medical Labs, expanding its global central laboratory network to four continents. The deal enhances Labcorp's biomarker and specialty testing capabilities, strengthening its position in clinical trial services. Financial terms were not disclosed.

Roche's Elecsys pTau217 assay and Labcorp's Alzheimer’s test received FDA clearance, enabling broader use in primary care. This shift requires health systems to adapt workflows, EHR systems, and clinician training. The operational challenge includes integrating results into clinical pathways to avoid alert fatigue and ensure actionable outcomes.

The FDA cleared a new blood test, Elecsys pTau217, developed by Roche and Eli Lilly, for evaluating Alzheimer's disease in people 55+. The test measures phosphorylated tau 217, a biomarker linked to amyloid pathology. It is designed to support diagnostic assessments but not replace full medical evaluations. Roche and Lilly aim to make the test accessible in primary care settings, potentially improving early diagnosis and treatment planning.

Piper Sandler raised Labcorp's price target to $309 from $300 but kept a 'Neutral' rating. The average target is $342.94, suggesting 1.6% upside, while the highest target is $385, implying 14%.