Skip to main content
Premium Trial:

Request an Annual Quote

Bankruptcy Court Approves True Health Dx's $37.1M Bid for HDL's Assets

NEW YORK(GenomeWeb) – Health Diagnostic Laboratory announced late on Wednesday that a US Bankruptcy Court judge has approved the $37.1 million sale of substantially all of the firm's assets to True Health Diagnostics. 

The deal is anticipated to be completed by the end of the month. Frisco, Texas-based True Health outbid other firms for HDL's assets in an auction held last week after increasing its initial stalking horse bid of $32 million made earlier this month.

Richmond, Virginia-based HDL filed for Chapter 11 protection in June shortly after reaching an agreement with the US Department of Justice to settle an investigation into whether HDL's payments to doctors were essentially kickbacks to encourage them to order the firm's tests. HDL agreed to pay nearly $50 million as part of the settlement but denied wrongdoing. 

True Health CEO Chris Grottenthaler said in a statement on Tuesday that the firm will adopt "an exacting corporate compliance program that, along with rigorous controls and intensive sales force training, will ensure that True Health will meet and exceed all regulatory requirements."

The Scan

J&J Booster Support

A US Food and Drug Administration advisory panel has voted to support a booster dose of Johnson & Johnson's SARS-CoV-2 vaccine, according to the Los Angeles Times.

To Keep the Cases Moving

The president of the UK Royal College of Pathologists tells the Financial Times that more investment is needed to tackle a backlog of cases.

NAS Expels Archaeologist

Science reports Luis Jaime Castillo Butters' expulsion is the first of an international member from the US National Academy of Sciences.

PLOS Papers on Angelman Syndrome-Like Cases, Salmonella Paratyphi A, SARS-CoV-2 in Brazil

In PLOS this week: exome sequencing analysis of Angelman syndrome-like cases, genetic epidemiology of Salmonella Paratyphi A, and more.