Business
Avalon’s Laboratory Services MSO Announces Expansion into Arizona
New Wholly Owned Lab “Veritas Laboratory” of Arizona, Anticipated to Generate Revenue in 2023 Engages Former Congressman Barry M. Goldwater Jr. To Expand
About this update from Avalon Globocare Corp.
[{"type":"text","content":"New Wholly Owned Lab “Veritas Laboratory” of Arizona, Anticipated to Generate Revenue in 2023 Engages Former Congressman Barry M. Goldwater Jr. To Expand Insurance Coverage and Grow Lab Footprint FREEHOLD, N.J., Aug. 21, 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”) is opening a new laboratory, Veritas Laboratories LLC (“Veritas”), in Scottsdale, Arizona. Avalon owns a 40% interest in LSM. Veritas is a CLIA-certified and COLA-accredited laboratory that offers a wide range of high-quality testing, including drug testing, genetic testing, urinary testing and COVID-19 PCR testing. Additionally, LSM has engaged former Congressman Barry M. Goldwater to expand coverage with in-network providers and grow laboratory footprint in Arizona. Barry M. Goldwater, Jr. is a former member of the United States Congress. He served in Congress at the same time with his father, 1964 Republican Presidential Nominee Senator Barry M. Goldwater, Sr. The Goldwater family’s presence in Arizona goes back to 1850. The family is well-known for promoting business, politics, and other interests for the great state of Arizona both domestically and abroad. Congressman Barry M. Goldwater, Jr. stated, “We welcome LSM to Arizona as they open a new facility in Scottsdale. Their new lab, Veritas, will provide much needed state-of-the-art drug, toxicology, genetics, and other proprietary testing. I look forward to working with LSM for the betterment of our community and state.” “LSM continues to grow its testing footprint nationwide by expanding to new states and territories,” commented, David Jin, M.D., Ph.D., President and Chief Executive Officer of Avalon. “We are very excited to engage former Congressman Barry M. Goldwater Jr. His expertise and relationships with insurance providers will be invaluable as we look to expand coverage with in-network providers locally in Arizona and nationwide. We look forward to working closely with Barry as we launch propriety lab tests later this year.” About Avalon GloboCare Corp. Avalon GloboCare Corp. (NASDAQ: ALBT) is a commercial stage company dedicated to developing and delivering innovative, transformative, precision diagnostics and cl...