True Health Diagnostics, based in Frisco, Texas, has offered to acquire Health Diagnostic Laboratory (HDL), based in Richmond, Va., for $32 million, according to a Richmond Times Dispatch report.
In June, HDL filed for bankruptcy. Regulatory issues have plagued the cardiac biomarker laboratory, which operates in an industry that is under constant scrutiny.
We reported last September that HDL and several other labs were under investigation by the Office of Inspector General and Justice Department into the practice of compensating physicians for ordering their tests. Then, this past April, we reported that HDL agreed to pay $47 million to resolve allegations it violated the False Claims Act.
True Health Diagnostics, which conducts diagnostic blood testing, will serve as the “stalking horse bidder” for HDL, meaning its offer is the floor price for HDL’s assets during the lab’s sale under Chapter 11.