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
Location
California, United States
Transaction Type
Buyout

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