{"schema_version":"secwatch.filing_event.v1","accession":"0000920148-23-000050","form_type":"8-K","ticker":"LH","cik":"0000920148","company_name":"LABCORP HOLDINGS INC.","filed_at":"2023-07-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.028002+00:00","generated_at":"2026-06-13T13:35:19.091007+00:00","sec_items":["1.01","2.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Labcorp completes spin-off of Fortrea; receives $1.6B cash, plans $1B buyback","bullets":["Spin-off completed June 30, 2023; Fortrea begins trading on NASDAQ under FTRE on July 3.","Labcorp received ~$1.6B cash from Fortrea as partial consideration for contributed assets.","Proceeds to fund $1.0B accelerated share repurchase program and $300M debt paydown this year.","Each Labcorp shareholder received one share of Fortrea for each LH share held as of June 20 record date.","Spin-off structured to qualify as tax-free distribution for US federal income tax purposes."],"urls":{"canonical":"https://secwatch.observer/filing/0000920148-23-000050","json":"https://secwatch.observer/filing/0000920148-23-000050.json","markdown":"https://secwatch.observer/filing/0000920148-23-000050.md","text":"https://secwatch.observer/filing/0000920148-23-000050.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/920148/000092014823000050/0000920148-23-000050-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/920148/000092014823000050/lh-20230630.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T13:35:19.091007+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b2b2fae8dbc5591981a9da8435596ddea83f4283","claim":"LABCORP HOLDINGS INC. completed a disposition involving Fortrea Holdings Inc. (closed 2023-06-30).","evidence_excerpt":"On June 30, 2023 (the “Distribution Date”) at 11:59 p.m., Burlington, North Carolina time, Laboratory Corporation of America Holdings (the “Company” or “Labcorp”) completed the previously announced separation (the “spinoff”) of Fortrea Holdings Inc. (“Fortrea”) from the Company.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/920148/000092014823000050/0000920148-23-000050-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"Fortrea Holdings Inc."},{"label":"Closing","value":"2023-06-30"}],"fact_type":"ma_transaction"},{"claim_id":"139ce99d6dfcf03b0bcfd124e881c7cfc92a0430","claim":"LABCORP HOLDINGS INC. entered into Tax Matters Agreement with Fortrea.","evidence_excerpt":"On July 3, 2023, Fortrea’s common stock will begin trading on the NASDAQ Stock Market under the ticker symbol “FTRE.” Item 1.01 Entry into a Material Definitive Agreement In connection with the spinoff, the Company entered into several agreements with Fortrea on or prior to the Distribution Date that, among other things, provide a framework for the Company’s relationship with Fortrea after the spinoff, including the following agreements: • a Separation and Distribution Agreement; • a Tax Matters Agreement; • an Employee Matters Agreement; and • a Transition Services Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/920148/000092014823000050/0000920148-23-000050-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Fortrea"}],"fact_type":"material_agreement"},{"claim_id":"3de2e88654a5956ed7c66ffa9dab79c610e89d60","claim":"LABCORP HOLDINGS INC. entered into Separation and Distribution Agreement with Fortrea.","evidence_excerpt":"On July 3, 2023, Fortrea’s common stock will begin trading on the NASDAQ Stock Market under the ticker symbol “FTRE.” Item 1.01 Entry into a Material Definitive Agreement In connection with the spinoff, the Company entered into several agreements with Fortrea on or prior to the Distribution Date that, among other things, provide a framework for the Company’s relationship with Fortrea after the spinoff, including the following agreements: • a Separation and Distribution Agreement; • a Tax Matters Agreement; • an Employee Matters Agreement; and • a Transition Services Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/920148/000092014823000050/0000920148-23-000050-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"supply"},{"label":"Counterparty","value":"Fortrea"}],"fact_type":"material_agreement"},{"claim_id":"5acd7cbd6602e60519964940ef0b1c7ca865719e","claim":"LABCORP HOLDINGS INC. entered into Transition Services Agreement with Fortrea.","evidence_excerpt":"On July 3, 2023, Fortrea’s common stock will begin trading on the NASDAQ Stock Market under the ticker symbol “FTRE.” Item 1.01 Entry into a Material Definitive Agreement In connection with the spinoff, the Company entered into several agreements with Fortrea on or prior to the Distribution Date that, among other things, provide a framework for the Company’s relationship with Fortrea after the spinoff, including the following agreements: • a Separation and Distribution Agreement; • a Tax Matters Agreement; • an Employee Matters Agreement; and • a Transition Services Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/920148/000092014823000050/0000920148-23-000050-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Fortrea"}],"fact_type":"material_agreement"},{"claim_id":"f8407c057983d29bd4378780ebe945b7122c96ec","claim":"LABCORP HOLDINGS INC. entered into Employee Matters Agreement with Fortrea.","evidence_excerpt":"On July 3, 2023, Fortrea’s common stock will begin trading on the NASDAQ Stock Market under the ticker symbol “FTRE.” Item 1.01 Entry into a Material Definitive Agreement In connection with the spinoff, the Company entered into several agreements with Fortrea on or prior to the Distribution Date that, among other things, provide a framework for the Company’s relationship with Fortrea after the spinoff, including the following agreements: • a Separation and Distribution Agreement; • a Tax Matters Agreement; • an Employee Matters Agreement; and • a Transition Services Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/920148/000092014823000050/0000920148-23-000050-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Fortrea"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}