Avalon GloboCare’s Laboratory Services MSO Signs Exclusive In-Network Lab Services Agreement Providing Significant Expansion Opportunity into 21 States
FREEHOLD, N.J., July 19, 2023 (GLOBE NEWSWIRE) -- Avalon GloboCare Corp. (“Avalon” or the “Company”) (NASDAQ: ALBT), a developer of innovative precision diagnostics and provider of clinical laboratory services, today announced Laboratory Services MSO, LLC (“LSM”), has signed an exclusive Master Service Agreement (“MSA”) with GeneX Laboratory Professional Corp. (“GeneX”). Avalon owns a 40% interest in LSM.
- Genex is a CLIA-certified and CAP-accredited laboratory located in Orange County, California that has been dormant and seeking a partner to utilize their valuable license networks.
- Those tests will now be performed utilizing the LSM infrastructure and resources providing significant expansion opportunity for LSM to perform services through in-network insurance providers previously unavailable.
- GeneX provides top-tier, comprehensive laboratory testing services and works with major providers in addition to Medicaid in 21 states.
- By leveraging LSM’s experience and infrastructure, we expect to achieve significant synergies with respect to revenue growth and market shares,” concluded Dr. Jin.