Texas company agrees to buy Va. blood-testing operation

By The Associated Press | Posted - Sep. 11, 2015 at 1:01 p.m.



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RICHMOND, Va. (AP) — A Texas-based company has agreed to pay $37.1 million for Richmond-based Health Diagnostic Laboratory.

The Richmond Times-Dispatch reports (http://bit.ly/1M2lqUF ) that True Health Diagnostics LLC of Frisco, Texas, was the successful bidder in Thursday's bankruptcy court-supervised auction.

HDL filed for Chapter 11 bankruptcy in June, listing between $100 million and $500 million in assets and liabilities. The sale of the blood-testing company is subject to approval of a federal bankruptcy judge, who has scheduled a hearing for Wednesday.

HDL said it expects to complete the sale by the end of the month.

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Information from: Richmond Times-Dispatch, http://www.timesdispatch.com

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The Associated Press

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