Myriad Genetics, Inc. has filed an 8-K with the Securities and Exchange Commission (SEC) regarding a significant asset sale. The company has agreed to sell its prenatal health business to Laboratory Corporation of America for $210 million in cash. This transaction is noteworthy as it could reshape Myriad's operations and affect its employees and stakeholders.

Background

Myriad Genetics, based in Salt Lake City, Utah, specializes in molecular diagnostics and genetic testing. The company is known for its innovative tests that help assess the risk of hereditary diseases. The 8-K form is a report that publicly traded companies must file with the SEC to disclose major events that shareholders should know about. This particular filing, accession number 0000899923-26-000094, was submitted on October 20, 2026.

What the Filing Says

According to the filing, on October 19, 2026, Myriad Genetics entered into an Asset Purchase Agreement with LabCorp. The agreement includes the sale of several key assets related to Myriad's prenatal health business, including:

  • Foresight Carrier Screen
  • Prequel Prenatal Screen
  • FirstGene 4-in-1 Prenatal Screen
  • SneakPeek Early Gender Test

The total consideration for the transaction is $210 million in cash, plus the value of the inventory at the time of closing. The agreement also stipulates that LabCorp will offer employment to certain employees of the business under comparable terms.

The filing outlines that the agreement contains standard representations, warranties, and covenants, including:

  • Conduct of the business between signing and closing
  • Efforts to consummate the transaction, including obtaining necessary consents and regulatory approvals

LabCorp has secured "representation and warranty" insurance to cover potential breaches of these representations by Myriad. Both parties have agreed to indemnify each other for certain losses arising from breaches of the agreement.

The transaction is subject to several customary closing conditions, including:

  • Expiration of any required waiting period under antitrust laws
  • Receipt of required approvals from state health care laws
  • Absence of any law or judgment that would prohibit the closing
  • Absence of pending litigation by governmental authorities
  • Accuracy of representations and warranties made by both parties

Additionally, the agreement includes termination rights, allowing either party to terminate the agreement if the transaction does not close by February 19, 2027, with potential extensions under certain conditions.

Impact

This asset sale may significantly impact Myriad Genetics' operations, particularly its prenatal health business. Employees in this division may face changes, as LabCorp will be making offers to some of them. Stakeholders, including investors and customers, will also be watching closely to see how this transaction affects Myriad's overall business strategy and financial health.

What's Next

The filing does not say what happens next. However, the completion of the transaction will depend on satisfying the outlined closing conditions and obtaining necessary regulatory approvals.