Roche enters into a definitive agreement to acquire LumiraDx's Point of Care technology combining multiple diagnostic modalities on a single platform
December 29 2023 - 4:30PM
Roche enters into a definitive agreement to acquire LumiraDx's
Point of Care technology combining multiple diagnostic modalities
on a single platform
- The transformative point of
care solution will complement Roche’s centralised diagnostics
portfolio across Clinical Chemistry, Immunochemistry, Coagulation
and Molecular, and across multiple disease areas
- LumiraDx’s technology
integrates multiple Point of Care tests on a simple to use single
instrument and brings more affordable and accessible testing to
patients worldwide
- Under the terms of the
agreement, Roche will pay a
purchase price of USD 295 million and an additional payment of up
to USD 55 million
Basel, 29 December 2023 - Roche (SIX: RO, ROG; OTCQX: RHHBY)
announced today the entry into a definitive agreement to acquire
select parts of the LumiraDx group (NASDAQ GS: LMDX) 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 transaction is part of Roche’s vision to enable more
patient-centric healthcare, with Point of Care solutions that span
the entire patient journey – from the home, pharmacy and general
practitioner’s office to the emergency room, intensive care unit
and beyond. 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. By leveraging its extensive global reach and established
affiliate network, Roche will be able to drive access to timely,
accurate diagnostic results when and where patients need them
most.
Terms of the acquisitionThe 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.About Roche
Founded in 1896 in Basel, Switzerland, as one of the first
industrial manufacturers of branded medicines, Roche has grown into
the world’s largest biotechnology company and the global leader in
in-vitro diagnostics. The company pursues scientific excellence to
discover and develop medicines and diagnostics for improving and
saving the lives of people around the world. We are a pioneer in
personalised healthcare and want to further transform how
healthcare is delivered to have an even greater impact. To provide
the best care for each person we partner with many stakeholders and
combine our strengths in Diagnostics and Pharma with data insights
from the clinical practice.
In recognising our endeavour to pursue a long-term perspective
in all we do, Roche has been named one of the most sustainable
companies in the pharmaceuticals industry by the Dow Jones
Sustainability Indices for the fifteenth consecutive year. This
distinction also reflects our efforts to improve access to
healthcare together with local partners in every country we
work.
Genentech, in the United States, is a wholly owned member of the
Roche Group. Roche is the majority shareholder in Chugai
Pharmaceutical, Japan.
For more information, please visit www.roche.com.
All trademarks used or mentioned in this release are protected
by law.
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