{"id":752121,"date":"2023-04-27T10:20:43","date_gmt":"2023-04-27T14:20:43","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/"},"modified":"2023-04-27T10:20:43","modified_gmt":"2023-04-27T14:20:43","slug":"avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/","title":{"rendered":"Avalon GloboCare Reports Laboratory Services MSO Revenue of $14.7 Million and Net Income of $6.3 Million in 2022"},"content":{"rendered":"<h2>\n40% Profit Sharing Arrangement with Laboratory Services MSO is Expected to Result in Significant Future Cash Flow to the Company<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"justify\">FREEHOLD, N.J., April  27, 2023  (GLOBE NEWSWIRE) &#8212; <strong>Avalon GloboCare Corp. (\u201cAvalon\u201d or the \u201cCompany\u201d) (NASDAQ: ALBT)<\/strong>, a developer of innovative cell-based technology, cellular therapy and precision diagnostics, today reported financial results for Laboratory Services MSO, LLC (\u201cLSM\u201d) for the twelve months ended December 31, 2022. In February 2023, Avalon <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ZC-rXSb-f5wSSIqoeGkuhh0V21jFp5lPSgMKfDu_3sh2Asi1pUmlfV3TXO-tSeFx1xFDT4xjx1ZFxET5iPSQIJlnAOSvGVjf0W6dwVl4hYM5H4VNSxNpCXuR6J-IXHebcLLBM0zMz2rn7jmG9fsSJ4flA_xn-rOd7S0HHpyYNqpMBv0VXsshC36FAvHpwT-Khn3-26XAfNMf6a8jzOTh2zZZ349bjlsvAF-3lpylbKg=\" rel=\"nofollow noopener\" target=\"_blank\">acquired<\/a> a 40% interest in LSM, a premier clinical diagnostics and reference laboratory.<\/p>\n<p align=\"justify\">\n        <strong>LSM 2022 Financial Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Revenue was $14.7 million<\/li>\n<li style=\"text-align:justify\">Gross profit was $8.1 million<\/li>\n<li style=\"text-align:justify\">Total operating expense was $2.4 million<\/li>\n<li style=\"text-align:justify\">Net income was $6.3 million<\/li>\n<\/ul>\n<p align=\"justify\">\u201cWe are pleased to report strong financial results and profitability for LSM in 2022, which we believe is further validation of our strategic investment,\u201d stated David Jin, M.D., Ph.D., President and Chief Executive Officer of Avalon GloboCare. \u201cLSM offers an extensive test menu, from general bloodwork to anatomic pathology, urine toxicology, pharmacogenomics (PGx) testing and more, with quick turnaround times. Our goal is to continue to grow LSM\u2019s top and bottom line by taking advantage of a unique roll-up opportunity within the highly fragmented market for laboratory testing and services. By targeting laboratories with exceptional performance, a positive revenue track record and niche-market advantage, we believe we can effectively leverage LSM\u2019s experience and infrastructure to achieve significant synergies.\u201d<\/p>\n<p align=\"justify\">Headquartered in Costa Mesa, California, LSM provides a broad portfolio of diagnostic tests including drug testing, toxicology, pharmacogenetics, and a broad array of test services, from general bloodwork to anatomic pathology. Specific capabilities include STAT blood testing, qualitative drug screening, genetic testing, urinary testing, sexually transmitted disease testing and more. LSM has a sophisticated and state-of-the-art facility for clinical diagnostics and reference laboratory. It has also developed a premier reputation for customer service satisfaction and fast turnaround time in the industry. LSM has completed over 600,000 tests since inception and currently has two operational locations in California.<\/p>\n<p>\n        <strong>About Avalon GloboCare Corp.<\/strong>\n      <\/p>\n<p align=\"justify\">Avalon GloboCare Corp. (NASDAQ: ALBT) is a clinical-stage biotechnology company dedicated to developing and delivering innovative, transformative cellular therapeutics, precision diagnostics, and clinical laboratory services. Avalon also provides strategic advisory and outsourcing services to facilitate and enhance its clients\u2019 growth and development, as well as competitiveness in healthcare and CellTech industry markets. Through its subsidiary structure with unique integration of verticals from innovative R&amp;D to automated bioproduction and accelerated clinical development, Avalon is establishing a leading role in the fields of cellular immunotherapy (including CAR-T\/NK), exosome technology (ACTEX\u2122), and regenerative therapeutics. For more information about Avalon GloboCare, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=dJi6y-KsnhKr8ghD_y3177jok1p_yGIFoylTRi-9qxK4yYanmCGmAmY3BJCdtz9ttwC0nl7Oks7aGSlzbaYadU5yuvmNSa34b5kO4cXACWU=\" rel=\"nofollow noopener\" target=\"_blank\">www.avalon-globocare.com<\/a>.<\/p>\n<p align=\"justify\">For the latest updates on Avalon GloboCare\u2019s developments, please follow our twitter at @avalongc_avco<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">Certain statements contained in this press release may constitute \u201cforward-looking statements.\u201d Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact, including statements regarding LSM. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http:\/\/www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company&#8217;s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company&#8217;s views as of any date subsequent to the date of the press release.<\/p>\n<p>\n        <strong>Contact Information: <\/strong><br \/>\n        <br \/>Avalon GloboCare Corp.<br \/>4400 Route 9, Suite 3100<br \/>Freehold, NJ 07728<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=pOYgNk2gM_D43ax9S4xLGO_0IsFhbvZUbCwYPRCGl9Hay4iPGlpNIkTG0gV31Pxl_GbQPPGGyz0FML4yGLhD2KMKJ-_4Cuf-pJnwziqg58U=\" rel=\"nofollow noopener\" target=\"_blank\">PR@Avalon-GloboCare.com<\/a>\u00a0<\/p>\n<p>Investor Relations:<br \/>Crescendo Communications, LLC<br \/>Tel: (212) 671-1020 Ext. 304<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=5NM9jn_3miElJx2WtXLSjDCbSTjjEaAXjey2gesM08t7_S55Zf2RlkBt2IN6eUk1dZekKCDHhFHlCFP5SjVhMPqncARylZ9BaLQ688kLU38=\" rel=\"nofollow noopener\" target=\"_blank\">albt@crescendo-ir.com<\/a>\u00a0<\/p>\n<p align=\"center\">(tables follow)<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle\">LABORATORY SERVICES MSO, LLC AND AFFILIATES<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle\">COMBINED BALANCE SHEETS<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:74%;width:74%;min-width:74%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">December 31,<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">2022<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">2021<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle\">ASSETS<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">CURRENT ASSETS:<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Cash<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle\">439,778<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle\">607,982<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Accounts receivable<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">4,088,069<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">3,086,966<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Other current assets<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">86,277<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Total Current Assets<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4,614,124<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,694,948<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">NON-CURRENT ASSETS:<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Operating lease right-of-use assets, net<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,758,063<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Finance lease right-of-use assets, net<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">291,419<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Property and equipment, net<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">14,667<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">18,667<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Total Non-current Assets<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,064,149<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">18,667<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Total Assets<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">6,678,273<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">3,713,615<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle\">LIABILITIES AND MEMBER&#8217;S EQUITY<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">CURRENT LIABILITIES:<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Accounts payable<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle\">573,395<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle\">184,139<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Accrued payroll liability<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">38,589<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">42,077<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Operating lease obligation<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">229,874<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Finance lease obligation<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">112,457<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Total Current Liabilities<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">954,315<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">226,216<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">NON-CURRENT LIABILITIES:<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Operating lease obligation &#8211; noncurrent portion<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,680,017<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Finance lease obligation &#8211; noncurrent portion<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">178,962<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Total Non-current Liabilities<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,858,979<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Total Liabilities<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">2,813,294<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">226,216<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Commitments and Contingencies<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">MEMBER&#8217;S EQUITY<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,864,979<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,487,399<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Total Liabilities and Member&#8217;s Equity<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">6,678,273<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">3,713,615<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle\">LABORATORY SERVICES MSO, LLC AND AFFILIATES<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle\">COMBINED STATEMENTS OF INCOME<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:74%;width:74%;min-width:74%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">For the Year Ended<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">For the Year Ended<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">December 31, 2022<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">December 31, 2021<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">REVENUE<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle\">14,689,747<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle\">18,278,430<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">COST OF REVENUE<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">6,612,268<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,002,674<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">GROSS PROFIT<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">8,077,479<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">13,275,756<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">OPERATING EXPENSES:<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Selling and marketing expense<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,344,552<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">480,269<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Professional fees<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">714,662<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">375,667<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Other general and administrative expenses<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">296,704<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">281,128<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Total Operating Expenses<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,355,918<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,137,064<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">OPERATING INCOME<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5,721,561<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">12,138,692<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">OTHER INCOME (EXPENSE)<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Forgiveness of Paycheck Protection Program loan<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">95,000<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Employee Retention Tax Credit<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">609,634<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">Other income<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">11,938<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">24,330<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Total Other Income, net<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">621,572<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">119,330<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">INCOME BEFORE INCOME TAXES<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">6,343,133<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">12,258,022<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">INCOME TAXES<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">NET INCOME<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">6,343,133<\/td>\n<td style=\"text-align: center;vertical-align: middle\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">12,258,022<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\u00a0<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNzIxNiM1NTYxNzkwIzIxODQyMDc=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/M2RhOGUxYjQtZjk5ZC00ODQ4LWFhMTktN2YwMzVlMDhkZDYwLTExOTU3NjE=\/tiny\/Avalon-GloboCare-Corp-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>40% Profit Sharing Arrangement with Laboratory Services MSO is Expected to Result in Significant Future Cash Flow to the Company FREEHOLD, N.J., April 27, 2023 (GLOBE NEWSWIRE) &#8212; Avalon GloboCare Corp. (\u201cAvalon\u201d or the \u201cCompany\u201d) (NASDAQ: ALBT), a developer of innovative cell-based technology, cellular therapy and precision diagnostics, today reported financial results for Laboratory Services MSO, LLC (\u201cLSM\u201d) for the twelve months ended December 31, 2022. In February 2023, Avalon acquired a 40% interest in LSM, a premier clinical diagnostics and reference laboratory. LSM 2022 Financial Highlights Revenue was $14.7 million Gross profit was $8.1 million Total operating expense was $2.4 million Net income was $6.3 million \u201cWe are pleased to report strong financial results and profitability for LSM in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Avalon GloboCare Reports Laboratory Services MSO Revenue of $14.7 Million and Net Income of $6.3 Million in 2022&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-752121","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Avalon GloboCare Reports Laboratory Services MSO Revenue of $14.7 Million and Net Income of $6.3 Million in 2022 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avalon GloboCare Reports Laboratory Services MSO Revenue of $14.7 Million and Net Income of $6.3 Million in 2022 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"40% Profit Sharing Arrangement with Laboratory Services MSO is Expected to Result in Significant Future Cash Flow to the Company FREEHOLD, N.J., April 27, 2023 (GLOBE NEWSWIRE) &#8212; Avalon GloboCare Corp. (\u201cAvalon\u201d or the \u201cCompany\u201d) (NASDAQ: ALBT), a developer of innovative cell-based technology, cellular therapy and precision diagnostics, today reported financial results for Laboratory Services MSO, LLC (\u201cLSM\u201d) for the twelve months ended December 31, 2022. In February 2023, Avalon acquired a 40% interest in LSM, a premier clinical diagnostics and reference laboratory. LSM 2022 Financial Highlights Revenue was $14.7 million Gross profit was $8.1 million Total operating expense was $2.4 million Net income was $6.3 million \u201cWe are pleased to report strong financial results and profitability for LSM in &hellip; Continue reading &quot;Avalon GloboCare Reports Laboratory Services MSO Revenue of $14.7 Million and Net Income of $6.3 Million in 2022&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-27T14:20:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNzIxNiM1NTYxNzkwIzIxODQyMDc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Avalon GloboCare Reports Laboratory Services MSO Revenue of $14.7 Million and Net Income of $6.3 Million in 2022\",\"datePublished\":\"2023-04-27T14:20:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\\\/\"},\"wordCount\":848,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODgyNzIxNiM1NTYxNzkwIzIxODQyMDc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\\\/\",\"name\":\"Avalon GloboCare Reports Laboratory Services MSO Revenue of $14.7 Million and Net Income of $6.3 Million in 2022 - 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(\u201cAvalon\u201d or the \u201cCompany\u201d) (NASDAQ: ALBT), a developer of innovative cell-based technology, cellular therapy and precision diagnostics, today reported financial results for Laboratory Services MSO, LLC (\u201cLSM\u201d) for the twelve months ended December 31, 2022. In February 2023, Avalon acquired a 40% interest in LSM, a premier clinical diagnostics and reference laboratory. LSM 2022 Financial Highlights Revenue was $14.7 million Gross profit was $8.1 million Total operating expense was $2.4 million Net income was $6.3 million \u201cWe are pleased to report strong financial results and profitability for LSM in &hellip; Continue reading \"Avalon GloboCare Reports Laboratory Services MSO Revenue of $14.7 Million and Net Income of $6.3 Million in 2022\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/","og_site_name":"Market Newsdesk","article_published_time":"2023-04-27T14:20:43+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNzIxNiM1NTYxNzkwIzIxODQyMDc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Avalon GloboCare Reports Laboratory Services MSO Revenue of $14.7 Million and Net Income of $6.3 Million in 2022","datePublished":"2023-04-27T14:20:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/"},"wordCount":848,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNzIxNiM1NTYxNzkwIzIxODQyMDc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/avalon-globocare-reports-laboratory-services-mso-revenue-of-14-7-million-and-net-income-of-6-3-million-in-2022\/","name":"Avalon GloboCare Reports Laboratory Services MSO Revenue of $14.7 Million and Net Income of $6.3 Million in 2022 - 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