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Assets of Medical Laboratories Business

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Assets of Medical Laboratories Business



Price: Not Specified

Other Item Info
Item #: txnbke_476659
Created: 01/10/2020
Category: Business Property > All Assets or Going Concerns > Health Care Equipment & Services
Sale Date: None Set
Seller Info
Robert T. DeMarco
Debtor's Attorney
1255 West 15th St., 805
Plano, TX 75075
972-578-1400
Bankruptcy Info
Case #: 4:19-bk-42920
Case Title: MyLabDFW, LLC
Court: Texas Northern Bankruptcy Court
Chapter: 11
View Case Docket

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Description

Sale of substantially all of assets of the Integrated Lab Solutions, Inc, including all of the tangible and intangible assets used in the business of or owned by ILS of any nature and further include any and all assets secured by a lien in favor of WHD. Assets shall also include but not be limited to all patents, all intellectual property, automation platform, generator and electrical upgrades as well as any claims or causes of action against WHD.


Additional Details

Purchase Price: The aggregate purchase price for the Purchased Assets (the "Purchase Price") shall consist of and to be payable as follows: (i) Buyer will assume and/or satisfy up to $75.000 of the note in the amount of $517,000 in principal and interest payable to WHD in full satisfaction of any liens against the Assets that are securing such note. WHD shall retain the balance of the note along with any liens secured by any assets not included in the Assets as well as any guarantees. (ii) As additional consideration, Buyer agrees to pay ILS a royalty of $2.00 for each lab processing procedure as the revenue is collected by Buyer (''Royalty"). The $2.00 per procedure royalty will be due‐and payable within 15 days after each month based on Buyer’s revenue receipts. The Royalty will continue until the Buyer has paid ILS a total of $25,000. Buyer will provide Seller with a monthly accounting of the Royalty calculation.



Other Information

Terms and Conditions:

See Attached.


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