Assets of Medical Laboratories Business
Listing Information
Assets of Medical Laboratories Business
Created: 01/10/2020
Category: Business Property > All Assets or Going Concerns > Health Care Equipment & Services
Sale Date: None Set
Debtor's Attorney
1255 West 15th St., 805
Plano, TX 75075
972-578-1400
Case Title: MyLabDFW, LLC
Court: Texas Northern Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of substantially all of assets of the MyLabDFW, LLC, including (i) all of the tangible and intangible assets used in the business of or owned by Seller and (ii) all assets secured by a lien in favor of Origin Bank as the Senior Creditor and (iii) all the equipment and software secured by Waters Technologies Corporation as the first lien Senior Secured Lessor Creditor for the Waters Xevo TQD Systems and all associated hardware, software and maintenance agreements.
Financial Overview
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 agrees that, subject to final court approval, it will assume the lease agreement with Waters as modified on terms mutually agreed upon between Waters and Buyer for all the Water's equipment previously purchased by MyLab under a capital lease obligation. The total consideration lo be paid to Waters by Buyer under this new capital lease obligation is approximately $418,000. As a result of the Buyer entering into the new lease obligation with Waters, MyLab will be relieved of its remaining liability to Waters in its entirety; (ii) Buyer will pay MyLab $20,000 in cash at closing for all the remaining Assets except the accounts receivable; and (iii) Buyer will pay MyLab $5,000 in cash at closing for all MyLab’s accounts receivable.