Saturday, December 30, 2023
Roche (SIX: RO, ROG; OTCQX: RHHBY) has formally entered into a definitive agreement to acquire specific components of the LumiraDx group (NASDAQ GS: LMDX) related to LumiraDx's Point of Care technology. Anticipated to be completed by mid-2024, the integration of the acquired entities into Roche Diagnostics is set to take place.
The CEO of Roche Diagnostics, Matt Sause, expressed excitement about incorporating LumiraDx technology into their diagnostics portfolio, emphasizing its potential to revolutionize point-of-care testing. LumiraDx's versatile platform, known for its robust performance across various disease areas and technologies, is expected to enhance patient access to timely results in decentralized healthcare settings worldwide.
Veronique Ameye, CEO of LumiraDx, expressed satisfaction that Roche will continue the crucial work of transforming community-based healthcare and expanding its global reach. This move is anticipated to facilitate quicker and easier access to improved diagnostic testing for more patients.
The acquisition aligns with Roche's vision to promote patient-centric healthcare through Point of Care solutions covering the entire patient journey, from home and pharmacy to general practitioner's offices, emergency rooms, intensive care units, and beyond. The acquired technology platform offers a broad range of immunoassay and clinical chemistry tests, with the potential for additional high medical value tests in the future. Notably, these tests can be stored at room temperature, enabling convenient use in various decentralized healthcare settings. Leveraging its extensive global reach and established affiliate network, Roche aims to provide timely and accurate diagnostic results wherever patients need them most.
The transaction is contingent on specific conditions, including obtaining antitrust and regulatory approvals. According to the agreement, Roche will pay a purchase price of USD 295 million at the closing of the transaction, subject to customary adjustments. Additionally, an extra payment of up to USD 55 million is allocated for reimbursing amounts to fund LumiraDx's Point of Care technology platform business until the acquisition's completion. This transaction is structured as part of a pre-packaged UK administration sale, with the full support of LumiraDx group's senior secured lender.
Source: globenewswire.com
