TECH-2438
New, CLIA, COLA Accredited Clinical /Toxicology Laboratory in South West USA

Fast Growing, Profitable Lab


The Lab is a full-service Toxicology and clinical services laboratory accredited by COLA and CLIA with state-of-the-art equipment. The Lab’s services include, but not limited to drug screening, drug confirmation, therapeutic drug monitoring, Hematology and Chemistry testing. The lab is run efficiently and has EMR System for merging data.

The Lab is quite young (was launched only in January 2016 and received its CLIA in November 2016). The complete billing process started operating in May 2017. In less than a year, the company has acquired a good size volume and is gaining additional customers. It is organized as an S Corporation with the seller as sole owner owning 100% of the company.

The Lab is in an excellent location with lots of medical offices and no competition from local labs in a 5-mile radius. As a result, it is able to grow its volume to 400 toxicology samples per month (revenue of about $60K-70K per month) in about 9 months and it continues to add new clients every month. It is about to sign some new contracts which will triple its volume load in next 3 months and is also adding new services. It recently passed credentialing requirements from BCBS and got their billing ID and is able to bill as in-network rates with BCBS and are also paid by United Healthcare and several other insurances. It is also credentialed with state Medicaid and Ambetter/Superior.

Although the Company is making an excellent progress and the Lab is running well, the owner realized that it takes too much of his time from his other healthcare businesses which are well-established and he can grow those businesses more efficiently as he has good experience in that area.

MAJOR ASSETS

• AB SCIEX 4500 (bought in 2017 – refurbished from Company)
• Indiko Plus Screening Chemistry Analyzers; One in production (bought new)
• LabDaq - Laboratory Information Management System (bought New)
• Active Diff5 (hematology) (Brand new, installation in progress now)
• Piccolo Express Chemistry Analyzer (new from
• Abbot)
• Other equipment – (Evaporator, refrigeration, computers and UPS systems, reagents and general laboratory supplies)

INSURANCES

The lab has contracted with Superior, Medicare, and Medicaid. It also bills and collects from BCBS (at in-network rates), United Healthcare, Wellmed, Scott & White out of network and others.

REVENUES

Current revenues are in the range of $700K-800K per year but Lab is projecting annualized revenue to continue to increase. It is adding 2-3 clients a month and in the process of acquiring a large client.

ASKING PRICE

The asking price for the business is $1.1 million, with the buyer picking up the lease payment on the equipment (about $400K left, over next 4 years).

The price is based on the time and asset investment, on the current revenue, as well on expected increased volume in the current year, and the future growth potential.

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Disclaimer: Technologypark has not independently verified any of the information in these descriptions, and makes no warranty as to their accuracies or completeness. The Buyers should do the necessary due diligence and consult their advisors.

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