Avalon GloboCare Corp (NASDAQ:ALBT) announced that Laboratory Services MSO, in which the company holds a 40% interest, has acquired DE Laboratory LLC.
The Houston-based lab expands LSM’s market penetration in Texas and provides a wide range of high-quality testing, including drug testing, genetic testing, urinary testing and COVID-19 PCR testing, according to a statement.
LSM is operating the laboratory as a fully owned subsidiary and has invested growth capital for geographical expansion into the surrounding counties, the company said.
“This acquisition is just another step towards our goal of expanding LSM through acquisitions and strategic relationships,” Avalon CEO David Jin said.
“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.”
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