Health Diagnostic selects True Health as winning bidder for assets

By Caroline Salls

Pittsburgh, Sept. 15 – Health Diagnostic Laboratory, Inc. selected True Health Diagnostics, LLC as its winning bidder in its strategic transaction bid process, according to a notice filed Tuesday with the U.S. Bankruptcy Court for the Eastern District of Virginia.

The company said True Health’s bid calls for the purchase of auctioned assets. Specifically, True Health will pay $27.1 million, minus a good faith deposit and a closing adjustment and will deliver a $10 million promissory note secured by accounts receivable.

The sale hearing is scheduled for Sept. 16.

Health Diagnostic, a Richmond, Va.-based blood testing company, filed for bankruptcy on June 7. The Chapter 11 case number is 15-32919.

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