Mar 4, 2019 — Laboratory service company, established 2014, owns lab and management service (LIS, billing, CRO…)
owning full service laboratory that operates 24/7 and provides a complete test menu with specialty in blood and toxicology testing. Laboratory is Medicare and Medicaid provider in many states (including valuable Texas Medicaid), from private insurances just Molina.
Toxicology Automation & Services: 80% reduction of Toxicology (Screen & Confirmation) testing costs through automation. Technology optimization (need 80% less staff) and Reagent contracts are under a very strong GPO better than large hospital labs but not quite as good as LabCorp and Quest.
Core Lab Services (IA / CHEM / Hematology / Toxicology): 60%-80% Net operating margins associated with in-house laboratory services.
Clinical Research Partner (“CRO”): Vendor relationships with major pharmaceutical companies as CRO for deidentified and directed studies. Lab has entered into a contract with a national clinical trials organization as the centralized lab for their clinical, diagnostic needs.
Patented intellectual property automating toxicology services.
Purchase price that includes the $20MM+ in open A/R, of which $6MM is patient balances that lab is beginning to bill, a huge win for a buyer who has in-network contracts.
Seven full time employees, paid equipment, 3,500 SF occupied space (5,000 SF leased) for $6,800 per month for 3 rears, option possible.