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.”
