Roche to Acquire Point-of-Care Technology from LumiraDx in $350 Million Deal

Roche announced on Dec. 29, 2023 that it has signed a definitive agreement to acquire select parts of the LumiraDx group related to that company’s point-of-care technology. The transaction is expected to close by mid-2024. Roche will pay $295 million at closing (subject to customary closing adjustments) and an additional $55 million for the reimbursement of amounts to fund the point-of-care technology platform business until the close of transaction. Upon closing, the acquired entities will be fully integrated into Roche Diagnostics.

LumiraDx’s technology integrates multiple point-of-care tests on a single, user-friendly instrument. This integration offers more affordable and accessible access to testing for patients globally, according to a company press release.

The technology platform offers a range of immunoassay and clinical chemistry tests, with potential for additional high medical value tests in the future. These tests can be stored at room temperature, enabling convenient handling in a range of decentralized healthcare settings, according to the press release.

“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 in the press release. “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.”

“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,” said Veronique Ameye, CEO, LumiraDx, in the release.

Source: Roche