Avalon GloboCare Signs Exclusive Agreement with GeneX Laboratory Professional

1 Mins read

Avalon GloboCare has announced that Laboratory Services MSO has signed an exclusive master service agreement with GeneX Laboratory Professional. This news has caused Avalon GloboCare shares to rise by 12% to $1.48.

Avalon GloboCare currently has a 40% interest in Laboratory Services MSO, making this agreement a significant development for the company. This comes at a time when Avalon GloboCare’s stock hit its 52-week low of $1.16, experiencing a decline of 68% over the past year.

GeneX is a highly reputable CLIA-certified laboratory situated in Orange County, California. Previously, GeneX had been inactive and was actively seeking a partner to utilize their license networks. With licenses from major providers such as Aetna California, Anthem BC of California, United Health Care, Cigna, Noridian Medicare, TRICare West, and Medicaid in 21 states, GeneX’s labs are well-equipped to provide a range of essential testing services.

These services include Liquid Chromatography-Mass Spectrometry drug testing, genetic testing, and Covid-19 PCR testing. Previously, access to these tests through in-network insurance providers was limited. However, with the new agreement in place, Laboratory Services MSO will leverage its infrastructure to perform these tests on behalf of GeneX using in-network insurance providers.

This partnership between Laboratory Services MSO and GeneX opens up valuable opportunities for both companies and improves accessibility to crucial testing services for individuals across various states.

Related posts

Banking Regulations for Preventing Failures

2 Mins read
Banking regulators have the power to prevent future bank collapses, according to a panel of banking experts who emphasized the importance of…

Dave's Strong Q4 Performance

1 Mins read
Shares of Dave surged on Tuesday following the digital bank’s announcement of a profitable fourth quarter earlier than expected, with a positive…

DaVita Expands in Latin America

1 Mins read
Shares of DaVita reached record levels as the kidney care services company announced its significant expansion into Latin America through a $300…

Leave a Reply

Your email address will not be published. Required fields are marked *

− 2 = 2