Monday, June 29, 2015

Want a Modern Blood-Testing Lab with Fun Slides?

Health Diagnostics Lab may go on the block.

Posted By on Mon, Jun 29, 2015 at 2:06 PM

Unbelievable deal!

One-time high-flying blood testing firm -- the darling of Richmond’s business eye -- could be yours for a mere pinprick if the U.S. Bankruptcy Court approves an auction this September.

Want advanced bio-tech? Health Diagnostic Laboratory offers the very latest in advanced biomarker testing that soon could (dare we say?) detect that pulmonary hiccup a decade from now.

Choice real estate in downtown Richmond once was worth more than $300 million and has such cute accessories as giant slides (think McDonald’s!) that let employees get downstairs in a fast and fun way.

Some things do need to be worked out, such as some $73 million or so in unsecured debt. But wait to see what the bankruptcy judge says when the next hearing comes up July 14.

Most of the other bugs have been worked out, including some dodgy marketing, paying doctors’ “draw fees” that boosted revenue plus a nettlesome $47 million fine to the feds.

But that’s like, so yesterday. Consider tomorrow!

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