Tech–2489: Brand New CLIA-CAP Toxicology / Blood Lab in North East
Turn-Key, in Novitas Region, Brand New Equipment, Debt-free, BCBS, Medicare, Medicaid
This North East high complexity Lab is CLIA and CAP accredited and has brand new equipment that can provide Toxicology testing (screening and confirmation), blood chemistry and immunology. It took about 1.5 years for the Company to set up the lab, validate all the instrumentation, get CLIA and CAP licenses and Medicare and Medicaid credentials. The Lab officially opened its doors to collect samples only from June, 2019 and currently serve 3 physicians who sends it about 50-100 samples per month. The founder of the lab has over 15 years of experience in running the lab and as medical director.
The owner has put in about $900,000 into this lab (both his own money and from loans from friends and bank (of which about $600K are outstanding). Additionally, the owner has also put in 2 years of sweat equity by working in the lab without salary, as a Medical Director and Lab Supervisor.
The laboratory is located in a modern office park in a very affluent and desirable township, midway between two major cities. The lab, with its 2,000 sq. foot area, offers ample space for expansion.
The high complexity laboratory has brand new equipment that include brand new LC/MS (Thermo Edura Triple Quad Mass Spec and Dionex Ultimate 3000 HPLC) for confirmation studies, and a brand new CLC 800 Chemistry Analyzer that can do Drug Screening, Blood Chemistry, and Immunology (CMP, Vitamin D, etc.), and LabDaq LIS system.
The laboratory is therefore very well-equipped, is turnkey and running in desirable Novitas jurisdiction. It has CLIA and CAP accreditations, and has coveted BCBS contract along with Medicare, Medicaid and Multiplan contracts.
Business Potential If Sold Quickly
In a short period, the seller had acquired three clients through marketing and those clients were very happy. He has had to temporarily halt the lab operations but hopefully can reopen the business in a short time once sold and can regain their business. The largest of them is a suboxone clinic that currently sends about 50-100 samples a month but plans to send about 250 samples per month from March of 2020. This could potentially bring about $850K per year of business – from one client alone.
- Turn-key, High Complexity Lab with CLIA and CAP accreditations
- Comes debt-free with fully paid off LC-MS, Chemistry Analyzer and LIS
- In-network with coveted BCBS and Medicare, Medicaid, Multiplan
- Comes with some business
- In desirable Novitas MAC
- Brand New Equipment – Validated and Running
- Ready to Run Tox, Blood, Immnunology Samples
- Space to Expand into other areas including Molecular
- In a highly desirable, affluent city and within about 30 minutes to two metro cities
- Owner and staff can stay
REASON FOR SALE
Currently, the lab has a limited revenue and has three pain management physicians as clients. The owner is looking to sell because of the debt burden and does not have the working capital needed to keep going. He is open to partnering with a physician.
The asking price for the lab is $750K, and offers a buyer a turnkey, debt-free, modern lab, in a highly desirable metro area.