Avalon GloboCare Purchases Laboratory Services
Avalon GloboCare Corp. (NASDAQ: AVCO) announced its acquisition of Laboratory Services MSO, LLC on November 8. The purchase price, for 60% of the company, totaled $31 million. Shares of Avalon’s common stock began trading under the new ticker symbol “ALBT” on the Nasdaq Capital Market on Thursday, November 10, 2022. Revere Securities LLC is acting as an advisor to Avalon in the transaction. Lowenstein Sandler LLP is acting as legal counsel to Avalon in the transaction. Blythe Global LLC is acting as accounting advisor. Headquartered in Costa Mesa, California, Laboratory Services MSO provides a broad portfolio of diagnostic tests including drug testing, toxicology and a wide array of test... Read More »
Werfen Acquires Immucor From TPG for $2 Billion
Barcelona-based Werfen announced on November 3 its acquisition of Immucor, Inc., a Norcross, Georgia-based provider of transfusion and transplantation diagnostic products worldwide, from San Francisco-based private equity firm TPG Capital. This acquisition will allow Werfen to expand its portfolio of specialized diagnostics solutions for hospitals and clinical laboratories. According to the LevinPro HC database, this marks the 114th acquisition in the Laboratories, MRI and Dialysis sector this year, and the 63rd deal in the diagnosis subsector. The purchase price is expected to be approximately $2 billion, with closing subject to customary regulatory approvals. The acquisition is being... Read More »
RadNet Acquires Controlling Interest in Heart & Lung Imaging Limited
RadNet, Inc., a national provider of freestanding, fixed-site diagnostic imaging services and related information technology solutions (including artificial intelligence) in the United States, announced it has acquired a 75% interest in London-based Heart & Lung Imaging Limited (HLI) for an undisclosed price. HLI’s network of more than 70 expert cardiothoracic radiologists provides specialist reporting services for the U.K.’s National Health Service (NHS) as well as a variety of hospitals and academic institutions. Of particular note, HLI has established itself as the leading provider of lung cancer screening reporting services to the NHS England Targeted Lung Health Check program.... Read More »
Thermo Fisher Acquires The Binding Site Group for $2.6 Billion
Thermo Fisher Scientific Inc. announced its acquisition of The Binding Site Group, a global specialist protein diagnostics company, from a shareholder group led by European private equity firm Nordic Capital, in an all-cash transaction valued at £2.25 billion, or $2.6 billion at current exchange rates. The transaction is expected to be completed in the first half of 2023. The Binding Site will become part of Thermo Fisher’s Specialty Diagnostics segment and is expected to be accretive to adjusted earnings per share by $0.07 for the first full year of ownership. The Binding Site specializes in the research, development, manufacture and distribution of tests used for the detection of... Read More »
Labcorp’s Q3 2022 Earnings Highlights
Laboratory Corporation of America Holdings (Labcorp), an S&P 500 global life sciences company, experienced a decline by nearly every financial metric (i.e. net revenue, gross profit, net earnings, operating income, etc.) and missed earnings estimates for the third quarter. Labcorp’s ‘robust’ acquisition strategy could not offset the impact of significant headwinds, including rising labor costs, labor shortages and other inflationary pressures. A major decrease in COVID-19 PCR and antibody testing sales also contributed to the decline in organic revenues. The reduced guidance for 2022 is indicative of this downward trend continuing into the final quarter of the year. The Burlington,... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
