Exhibit 99.7

                                CONSENT OF U.S. BANCORP PIPER JAFFRAY INC.


We  hereby  consent  to the  inclusion  in  the  Registration  Statement  of Lab
Holdings, Inc. relating to the proposed merger of LabOne, Inc. with and into Lab
Holdings  Inc.,  of our opinion  letter  appearing as Annex C to the Joint Proxy
Statements/ Prospectus which is a part of the Registration Statement, and to the
references of our firm name therein.  In giving such consent,  we do not thereby
admit that we come within the category of person whose consent is required under
Section 7 or Section 11 of the Securities Act of 1933, as amended,  or the rules
and regulations adopted by the Securities and Exchange Commission thereunder nor
do we admit that we are experts  with  respect to any part of such  Registration
Statement within the meaning of the term "experts" as used in the Securities Act
of 1933, as amended, or the rules and regulations of the Securities and Exchange
Commission thereunder.

Very truly yours,


By/s/  US Bancorp Piper Jaffray

         U.S. Bancorp Piper Jaffray Inc.

Minneapolis, Minnesota
April 9, 1999