Updated: The laboratory testing firm, once the darling of Richmond startups, has filed for bankruptcy as it faces massive debt, settlement payments to the federal government and lawsuits from two major insurers.
Health care
Breaking news: HDL files bankruptcy
With tens of millions of dollars in debt and under pressure by one of its lenders, Health Diagnostic Laboratory filed for Chapter 11 bankruptcy late Sunday. The initial filings indicate that HDL has more than 200 creditors, 30 of which were named in the documents. The company lists assets worth between $100 million and $500… Read more »
Contractor takes up $200M suit against HDL
After a brief ceasefire, the legal battle between local lab company HDL and its former sales contractor is back on. The contractor has resumed its $200 million lawsuit against HDL over the companies’ abruptly ended agreement.
Bon Secours puts finishing touches on hospice house
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The health system plans to open its first free-standing hospice facility in Bon Air next month and has almost reached its $8 million fundraising goal.
VCU, Bon Secours pull plug on children’s hospital
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The two health systems announced Thursday that they were backing out of plans to help build a $600 million freestanding children’s hospital in the area.
HDL jettisons startup investments
Facing millions in settlement costs, Health Diagnostic Laboratory is tightening up its investments and selling off its stake in another local health tech firm.
HDL files $66M rebuttal to insurer lawsuit
The medical testing firm Health Diagnostic Laboratory is striking back against one of several multimillion-dollar lawsuits against it with a $66 million counterclaim.
Tech firm breaks into health market
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A medical technology firm has inked its first revenue-generating deal since switching its focus two years ago. And with one contract in hand, the company hopes to convince more health facilities to sign on.
HDL hit with another insurer lawsuit
Just off of a $47 million settlement with the federal government, downtown’s Health Diagnostic Laboratory is facing another legal battle with an insurance firm over its alleged fraudulent billing scheme.
Urgent care concept expanding to West End
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A group of doctors is bringing an urgent care business to the Willow Lawn area, the concept’s third location in three years.