Swiss pharmaceutical and diagnostics giant Roche (SWX: ROG, OTCMKTS: RHHBY, SWX: RO) has announced the completion of its acquisition of the point-of-care (POC) solutions business from UK-based diagnostics firm LumiraDx, following all necessary antitrust and regulatory approvals. Initially announced at the end of 2023, the acquisition involved an upfront payment of USD 295 million, with an additional amount of up to USD 55 million to reimburse LumiraDx and its financial backer, BioPharma Credit, for maintaining the POC business operations until the deal’s closure.
The acquisition is poised to significantly enhance Roche’s diagnostics portfolio by incorporating LumiraDx’s user-friendly POC platform, which integrates a variety of immunoassay and clinical chemistry tests onto a single device, with the potential for future expansion into molecular testing. Roche aims to leverage this acquisition to expand its offerings in decentralized patient care, enabling the delivery of diagnostic tests to homes, pharmacies, doctors’ offices, and other non-traditional healthcare settings.- Flcube.com
