Avalon’s Laboratory Services MSO Acquires Texas Lab with Significant Potential Growth
24 Luglio 2023 - 3:00PM
Avalon GloboCare Corp. (“Avalon” or the “Company”) (NASDAQ:
ALBT), a developer of innovative precision diagnostics and
provider of clinical laboratory services, today announced
Laboratory Services MSO, LLC (“LSM”), has acquired DE Laboratory
LLC (“DE Labs”), which expands its penetration within Texas and
provides significant potential growth opportunities for the
combined company. Avalon owns a 40% interest in LSM.
DE Labs is a CLIA-certified and COLA-accredited
laboratory located in Houston, Texas that offers a wide range of
high-quality testing, including drug testing, genetic testing,
urinary testing and COVID-19 PCR testing. LSM is now operating this
laboratory as a fully owned subsidiary and has invested growth
capital for geographical expansion into the surrounding
counties.
“This acquisition is just another step towards
our goal of expanding LSM through acquisitions and strategic
relationships,” commented, David Jin, M.D., Ph.D., President and
Chief Executive Officer of Avalon. “Our strategy is to take
advantage of a unique roll-up opportunity within the highly
fragmented market for laboratory testing and services. We continue
to target laboratories with exceptional performance, positive
revenue track records and niche-market advantages. By leveraging
LSM’s experience and infrastructure, we expect to achieve
significant synergies with respect to revenue growth and market
share.”
About Avalon GloboCare Corp.
Avalon GloboCare Corp. (NASDAQ: ALBT) is a
commercial stage company dedicated to developing and delivering
innovative, transformative, precision diagnostics and clinical
laboratory services. Avalon is establishing a leading role in the
innovation of diagnostic testing, utilizing proprietary technology
to deliver precise, genetics-driven results. The Company also
provides laboratory services, offering a broad portfolio of
diagnostic tests including drug testing, toxicology, and a broad
array of test services, from general bloodwork to anatomic
pathology, and urine toxicology. For more information about Avalon
GloboCare, please visit www.avalon-globocare.com.
For the latest updates on Avalon GloboCare’s
developments, please follow our twitter at @avalongc_avco
Forward-Looking Statements
Certain statements contained in this press
release may constitute “forward-looking statements.”
Forward-looking statements provide current expectations of future
events based on certain assumptions and include any statement that
does not directly relate to any historical or current fact,
including statements regarding LSM. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors as disclosed in our
filings with the Securities and Exchange Commission located at
their website (http://www.sec.gov). In addition to these factors,
actual future performance, outcomes, and results may differ
materially because of more general factors including (without
limitation) general industry and market conditions and growth
rates, economic conditions, and governmental and public policy
changes. The forward-looking statements included in this press
release represent the Company's views as of the date of this press
release and these views could change. However, while the Company
may elect to update these forward-looking statements at some point
in the future, the Company specifically disclaims any obligation to
do so. These forward-looking statements should not be relied upon
as representing the Company's views as of any date subsequent to
the date of the press release.
Contact Information: Avalon GloboCare Corp.4400
Route 9, Suite 3100Freehold, NJ 07728PR@Avalon-GloboCare.com
Investor Relations:Crescendo Communications, LLCTel: (212)
671-1020 Ext. 304albt@crescendo-ir.com
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