Roche to acquire LumiraDx’s Point of Care technology for $350m to expand diagnostics reach

Roche has announced a definitive agreement to acquire select parts of LumiraDx Group related to its innovative Point of Care technology, a deal totaling $350 million. Expected to close by mid-2024, this acquisition is set to fully integrate the acquired entities into Roche Diagnostics, significantly expanding its diagnostics portfolio.

Transforming Point of Care Testing

Matt Sause, CEO of Roche Diagnostics, highlighted the potential of LumiraDx’s technology to revolutionize testing at the point of care, offering strong performance across multiple disease areas. This acquisition aligns with Roche’s vision to enable more patient-centric healthcare, providing accessible diagnostic solutions from home to emergency rooms and beyond.

Expanding Global Reach in Healthcare

The technology platform, capable of conducting a wide range of immunoassay and clinical chemistry tests, is poised for future expansion with high medical value tests. Its room temperature storage capability enhances its utility in decentralized healthcare settings. Roche plans to leverage its global network to drive access to accurate diagnostics.

Roche to acquire LumiraDx’s Point of Care technology for $350m

Transaction Terms and Future Integration

The transaction, subject to antitrust and regulatory approvals, includes a $295 million purchase price and up to $55 million additional payment for the Point of Care technology platform’s support until closing. Veronique Ameye, CEO of LumiraDx, expressed enthusiasm for Roche’s continuation and global expansion of their transformative community-based healthcare technology.

Complementing Roche’s Diagnostics Portfolio

This acquisition complements Roche’s existing diagnostics solutions across multiple areas, integrating LumiraDx’s technology that consolidates various tests into a single, user-friendly instrument. This move is anticipated to make affordable and accessible testing available to patients worldwide.