Reditus to Cease Operations

Reditus to Cease Operations




Reditus to Cease Operations

PEKIN, Ill.–(BUSINESS WIRE)–Reditus Laboratories will be ceasing all laboratory testing as of the close of business on November 4, 2022, and in the coming months expects to liquidate its assets in an orderly fashion and dissolve as an entity, subject to court approvals. A previously reported dispute between the owners of Reditus is ongoing, and the lab has been operating under a court-ordered receivership related to that dispute since April 14, 2022. The parties to the dispute have been unable to resolve their differences during the receivership. The parties have informed the receiver that they do not oppose liquidation of the company as the litigation continues. The expected duration of the litigation is just one factor in the decision to cease operating and liquidate. The company’s management is extremely disappointed that the lab must shut down but does not believe there are any alternatives for numerous reasons.

The employees of Reditus will receive legally-required advance notice of the closing of the company, which will give them time to explore their next opportunities. This workforce includes many highly trained and skilled individuals who made significant contributions to Reditus — not only in the core area of PCR testing for COVID-19 and other pathogens, but also in microbiology, cytology, cytogenetics, hematology, histology and NextGen Sequencing.

Reditus Laboratories has been a leading COVID-19 laboratory since the beginning of the pandemic, performing millions of COVID-19 PCR tests since the lab’s inception in 2019. The lab’s dedicated workforce, which during the pandemic’s peak included almost 300 employees, worked tirelessly — often through extended shifts during the pandemic — to address the testing needs of communities throughout the State of Illinois.

Contacts

Jim Keane, J.Keane@redituslabs.com, 630.250.2308