Roche (RHHBY) to Acquire LumiraDx's Point of Care Technology [Yahoo! Finance]
LumiraDx Limited (LMDX)
Company Research
Source: Yahoo! Finance
Based in the U.K., LumiraDx is a next-generation point-of-care diagnostics company. Per the terms, Roche will pay $295 million and an additional payment of up to $55 million to fund the Point of Care technology platform business until the closing of this acquisition. The transaction is expected to close by mid-2024. 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. The acquisition will complement Roche's centralized diagnostics portfolio across Clinical Chemistry, Immunochemistry, Coagulation and Molecular and multiple disease areas. Through this buyout, Roche intends to provide better Point of Care solutions that span the entire patient journey, from home, pharmacy and general practitioner's office to the emergency room, intensive care unit and beyond. RHHBY's Point of Care solutions generated sales of CHF 865 million in the first nine months of 2023,
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