Health Diagnostic wins approval to hold auction for subsidiary assets

By Caroline Salls

Pittsburgh, Aug. 4 – Health Diagnostic Laboratory, Inc. obtained court approval of bid procedures related to the sale of substantially all assets of its subsidiary Central Medical Laboratories, LLC, according to an order filed Monday with the U.S. Bankruptcy Court for the Eastern District of Virginia.

Since filing for bankruptcy, Health Diagnostic said it has been contacted by “several potential purchasers” interested in the CML assets “separate and apart from the debtors’ other assets.”

The company said it does not intend to select a stalking horse bidder for the CML assets. Preliminary indications of interest are due by 5 p.m. ET on Aug. 13.

Bids are due by 5 p.m. ET on Aug. 18, and an auction will take place on Aug. 20.

The sale hearing is scheduled for Aug. 24.

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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