Avalon GloboCare to Acquire Majority Interest in Laboratory Services MSO
November 8, 2022
Avalon GloboCare Corp. signed a definitive agreement to acquire a 60% interest in Laboratory Services MSO, LLC for total consideration of $31 million (cash, preferred stock and contingent payments). Laboratory Services is a Costa Mesa, California-based reference laboratory with 2021 unaudited revenue in excess of $25 million and two California locations; co-founder Sarah Cox will join Avalon as COO and a director. The transaction is subject to customary closing conditions and financing and is expected to close within the timeline described in the agreement.
- Buyers
- Avalon GloboCare Corp.
- Targets
- Laboratory Services MSO, LLC
- Sellers
- Zoe Family Trust, Bryan Cox, Sarah Cox
- Industry
- Healthcare Services
- Location
- California, United States
- Transaction Type
- Buyout
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