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Roche Acquires LumiraDx's Point of Care Technology for USD 295 Million

By LabMedica International staff writers
Posted on 03 Jan 2024
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Image: LumiraDx has announced an agreement to sell its cutting edge POC technology platform to Roche (Photo courtesy of LumiraDx)
Image: LumiraDx has announced an agreement to sell its cutting edge POC technology platform to Roche (Photo courtesy of LumiraDx)

Roche (Basel, Switzerland) has entered into a definitive agreement to acquire specific parts of the LumiraDx group related to LumiraDx’s (London, UK) state-of-the-art Point of Care technology. The terms of the agreement stipulate that Roche will make an initial payment of USD 295 million, with potential additional payments of up to USD 55 million to support the Point of Care technology platform business until the acquisition is completed. The anticipated completion of this transaction is by mid-2024, post which the acquired entities will be fully integrated into Roche Diagnostics.

LumiraDx stands at the forefront of point-of-care diagnostics, revolutionizing healthcare delivery in community settings. Its innovative microfluidic technology ensures rapid, precise, and accessible diagnostic services, enabling critical testing wherever patients are located. The company boasts an extensive range of tests applicable on a single portable platform, with over 30 assays either available or in development. These assays encompass a variety of medical needs, including infectious diseases, cardiovascular health, diabetes, and coagulation disorders. LumiraDx also supports high-complexity laboratory testing in an accessible high-throughput format to leverage current molecular laboratory operations.

This acquisition is in line with Roche's strategic goal of fostering patient-centered healthcare through innovative point-of-care solutions that cover an extensive range of healthcare settings. The technology being acquired provides a diverse array of immunoassay and clinical chemistry tests, with significant scope for further high-value medical tests in the future. Notably, the ability to store these tests at room temperature enhances their usability in various decentralized healthcare environments. Roche plans to capitalize on its global presence and robust affiliate network to expand access to precise, timely diagnostic results, ensuring patients receive the care they need promptly and efficiently.

“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 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,” added Veronique Ameye, Chief Executive Officer of LumiraDx. “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.”

Related Links:
Roche
LumiraDx Limited

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