NJ and PA Licenses (Novitas MAC), NY License Coming Soon
This Lab is in a well-to-do town in NJ and is an excellent opportunity for someone looking for a Lab in molecular test-friendly Novitas MAC. As a bonus, the Lab is also licensed in the neighboring state of PA and is close to getting NY license, which takes 12-18 months. Although the Company was founded in December 2019, the Lab was set up in 2020 and started testing only in 2021.
After the COVID wave ended, the Lab stopped active testing in May 2023, so it currently has no business.
The Lab has established relationships with 40 pharmacies in NJ, which can act as a marketing channel for RPP/Flu/Covid and direct-to-consumer tests.
The Lab’s state-of-the-art equipment was set up to do high-volume COVID testing. It is, therefore, capable of running large volumes of molecular tests. Recently, the Lab has completed UTI Molecular validation and submitted the validation package to the New Jersey Department of Health, and is awaiting its approval. The Lab is in a spacious, well-lighted, and beautiful location with room to expand. It is in a stand-alone, modern building with another tenant in a relatively quiet street, parallel to a large highway and very close to I-80 and I-280. It has a generous parking lot with plenty of parking available.
In short, this is a great Lab for an ambitious buyer looking to leverage its favorable location, multi-state molecular licenses, and pharmacy relationships to take it to the next level.
Financial Highlights
In 2023, the Lab had a modest revenue of $1 Million. The lab has no revenue, as it stopped testing in May 2023.
Asking Price
The asking price of the business is now at $395K. At this price, the Buyer gets:
a. A turn-key lab licensed in two highly desirable states with Novitas MAC, and it is on its way to
getting a coveted and hard-to-get NY License (inspection on Dec. 2023 was postponed by sellers due to holiday season)
b. Additionally, it has been validated and licensed in NJ for COVID, RPP, GPP, and validated for UTI (validation data
submitted to NJDOH)
