Cordant is being sold!

The same group that owns Ameritox and Dominion is acquiring Cordant to create one lab! Everything will be finalized soon.

 

I don't think so. Cordant owns 5 labs and a few pharmacies. Cordant might acquire Atox or Dominion, but I doubt that as well.

 

I don't think so either. The struggling lab Aegis just purchased the struggling lab Ameritox, so Cordant, who is striving, will probably purchase Aegis.

 

Striving? Striving to be what a bankrupt company. Cordant is not THRIVING. The are in trouble. I have it on good authority that Waud Capital is trying to sell this company. They want out due to the audits they are now under. The finding are looking to be very bad. Big paybacks are coming! Plus with Waud owning ACADIA, Cordant can't even take any work from the ACADIA holdings without risking AKS and STARK violations. This is a sinking ship. You can't live in the criminal justice sector for 50% of your work and expect to THRIVE. This is why they are striving to go bankrupt! I do agree with your comments on Ameritox and Aegis though. Aegis is trying to build up their revenue to sell to Q or L. They know the EBITDA is low so their multiples will be low. If they can inflate revenue they might be able to get 1x1 revenue to sale price. This is what Waud is trying to do. Inflate revenue, don't worry about profit, just try to break even and sell for a 1x1 multiple. We are a dying industry and if you are not willing to fight hard against L&Q you will go bankrupt. Remember, we are ll just renting Labcorp and Quests client lists. Eventually they will get them back when we go bankrupt of they buy our labs on the cheap!

 

I thought Cordant was being sold. What a moron!

 

Cordant is not selling. They are actually trying to buy. Looking for either small add on labs in the purchase range of $20-$30M or a large lab at the price of $90m. They want in-network labs only so they can diversify into non toxicology markets.