Sam Brusco, Associate Editor01.02.24
Roche began a deal to acquire certain parts of the LumiraDx group that are related to the company’s Point of Care (POC) technology. The transaction is expected to close by mid-2024, at which point the acquired businesses will be integrated into Roche Diagnostics.
The transaction, Roche said, is part of its vision to enable more patient-centric healthcare with POC solutions that span the patient journey. LumiraDx’s acquired tech platform includes a range of immunoassay and clinical chemistry tests that can be stored at room temperature. The company’s technology integrates multiple POC tests on a single instrument.
Under the terms of the agreement, Roche will pay $295 million at closing with an additional $55 million payment to reimburse amounts to fund the POC business until the acquisition’s closing.
“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 of 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 decentralized healthcare settings worldwide.”
Veronique Ameye, CEO 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 transaction, Roche said, is part of its vision to enable more patient-centric healthcare with POC solutions that span the patient journey. LumiraDx’s acquired tech platform includes a range of immunoassay and clinical chemistry tests that can be stored at room temperature. The company’s technology integrates multiple POC tests on a single instrument.
Under the terms of the agreement, Roche will pay $295 million at closing with an additional $55 million payment to reimburse amounts to fund the POC business until the acquisition’s closing.
“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 of 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 decentralized healthcare settings worldwide.”
Veronique Ameye, CEO 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.”