Worksite Labs State-of-the-Art Testing Facilities to Be Sold at Auction by Order of the US Bankruptcy Court

LOS ANGELES, Nov. 15, 2023 /PRNewswire/ -- On November 30, ThreeSixty Asset Advisors LLC and EquipNet, Inc. will hold a public online auction of over 500 lots of late model equipment ordered sold as a result of Worksite Labs' Chapter 11 Bankruptcy Filing.  Equipment will be sold from lab facilities in California, Nevada and Washington, with some remote location equipment sold from EquipNet's Canton Massachusetts facility.

Worksite Labs filed for bankruptcy protection in July of 2023.  The company, which launched in 2020, initially to serve the growing need for Covid testing, quickly pivoted away from being a Covid-centric operation into broader laboratory diagnostics services.  The company leveraged its extensive network and provider contracts, opening facilities throughout the Western US, New York and Guam.  With the acquisition of state-of-the art hematology, immunology and chemical analyzers, WSL was able to provide a variety of over 400 blood and urine diagnostics services.

Cash flow issues, however, caused by health insurance revenue cycle and payment delays, forced the company into a Chapter 11 bankruptcy reorganization, which has now resulted in the shuttering of multiple locations, all provisioned with state-of-the art equipment.

"It's rare to see such a quality selection of late model laboratory equipment come available at auction.  Virtually all of the items in the sale are less than 2 years old, with some items found still in original packaging," says ThreeSixty President, Jeff Tanenbaum.

The auction will feature numerous real-time PCR analyzers from Bio-Rad, Thermo Fisher Scientific, Cepheid and other top brands, centrifuges and micro centrifuges, Biosafety cabinets and lab hoods, microscopes, pipettor robots, lab refrigeration and a wide range of lab and office support equipment, including worktables, carts and shelving, iPads, laptop computers, two 24' cargo trailers retrofit with flooring, lighting and a/c, and much more.

In addition, the company's leased 2022 Abbott Alinity c and Alinity i systems and its two Abbot CELL-DYN Ruby Hematology Analyzers are being sold pre-auction on behalf of the leasing companies.  The company is also entertaining offers on its various licenses and contracts.

For inquiries, or for a complete auction catalog and terms of sale, go to 360bid.sale or email [email protected].  All items are viewable online, will open for bidding on November 27 and will close in succession on November 30 starting at 12:00 noon PT at the equipnet.com bidding site.  Buyers will be responsible to remove items from each location within a three-day period allocated for each site.  See the auction companies' websites for more details.

Media Contact:
Jeff Tanenbaum, Three Sixty Asset Advisors, Auctioneer
720.704.5421
364146@email4pr.com

SOURCE ThreeSixty Asset Advisors LLC