FRISCO, Texas--(BUSINESS WIRE)--True Health Diagnostics (True Health), an innovative, clinical diagnostics laboratory focused on preventing chronic disease, is pleased to announce the acquisition of Richmond-based Health Diagnostics Laboratory Inc. (HDL), in a court-supervised auction, making the Frisco-based company the largest provider in the industry. True Health Diagnostics’ winning bid during the HDL’s Chapter 11 bankruptcy auction was $37.1M.
Chris Grottenthaler, the CEO of True Health, announced that “HDL’s culture of innovation and scientific excellence and commitment to compliance with healthcare regulatory requirements aligns perfectly with ours. We are very pleased to bring aboard hundreds of employees whose talents will play a significant role in the success of our company. Together, we will have the scale and talent we need to pursue new market opportunities.
“While HDL, Inc. has encountered financial challenges, I have no doubt its best days are ahead. The acquisition by True Health Diagnostics is the best possible outcome for all involved, including employees from both companies, the Richmond community, healthcare providers and their patients.”
True Health and HDL are committed to continue offering best in class service to both companies’ customers. The acquisition is further evidence of True Health Diagnostics’ commitment to help improve patient outcomes by offering providers innovative assays and diagnostics to help improve early detection of hidden risk to reduce avoidable costly events and save lives. The acquisition is a significant milestone for True Health Diagnostics to establish the company as the premier diabetes and cardiovascular advanced clinical diagnostics laboratory in the U.S.
About True Health Diagnostics
True Health Diagnostics is an advanced clinical laboratory and diagnostics information provider focused on preventing chronic disease in order to empower physicians and other medical specialists to achieve better patient health outcomes. The Texas-based company specializes in innovative bio-markers, which enables healthcare providers to more accurately diagnose, manage, and prevent the progression of cardiovascular diseases, genetic disorders, diabetes and other metabolic conditions.
More information can be found online at http://www.truehealthdiag.com/.