Roche enters into agreement to acquire LumiraDx Point of Care technology combining multiple diagnostic modalities on single platform
Basel: Roche has announced the entry into a definitive agreement to acquire select parts of the LumiraDx group related to LumiraDx's innovative Point of Care technology. Following closing of the transaction, which is expected by mid-2024, the acquired entities will be fully integrated into Roche Diagnostics.
“The addition of the LumiraDx technology to our diagnostics portfolio will enable us to transform testing at the point of care.” said Matt Sause, CEO Roche Diagnostics. “LumiraDx has developed a highly versatile platform that delivers strong performance across multiple disease areas and technologies. We believe this will enable better patient access to timely results in decentralised healthcare settings worldwide.”
Veronique Ameye, Chief Executive Officer of LumiraDx added, “Since our founding, we have sought to transform community-based healthcare by consolidating multiple Point of Care tests on a single instrument. We are thrilled that Roche will continue this important work and increase its reach around the globe. This will enable more patients to get fast and easy access to better diagnostic testing.”
The acquired technology platform offers a wide range of immunoassay and clinical chemistry tests, with great potential for additional high medical value tests in the future. These are capable of being stored at room temperature which enables convenient handling in a range of decentralised healthcare settings.
The transaction is subject to certain conditions including antitrust and regulatory approvals.
Under the terms of the agreement, at the closing of the transaction Roche will pay a purchase price of USD 295 million (subject to customary closing adjustments) and an additional payment of up to USD 55 million for the reimbursement of amounts to fund the Point of Care technology platform business until the closing of this acquisition. The transaction is part of a pre-packaged UK administration sale, with the full support of LumiraDx group’s senior secured lender.
Read also: Roche Xolair gets USFDA priority review for children, adults with food allergies
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.