LMDX - LumiraDx Announces Agreement to Sell its Cutting Edge Point of Care Technology Platform to Roche | Benzinga
LONDON, Dec. 29, 2023 (GLOBE NEWSWIRE) -- LumiraDx Limited (NASDAQ:LMDX) (the "Company"), a next generation point of care diagnostics company, announced today the appointment of joint administrators for two of its subsidiaries. The administrators have signed a definitive agreement to sell certain companies of the LumiraDx group related to LumiraDx's innovative point of care technology to Roche.
The Company announced today that Andrew Johnson, Lisa Rickelton and Lindsay Hallam of FTI Consulting LLP have been appointed as joint administrators of two of its subsidiaries, LumiraDx Group Limited and LumiraDx International Limited, which together hold substantially all of the assets of the LumiraDx group.
The appointed administrators entered into a definitive agreement for Roche to acquire certain companies of the LumiraDx group engaged in its point of care diagnostics platform business and certain related assets. Under the terms of the agreement, at the closing of the transaction Roche will pay a purchase price of USD 295 million (subject to customary closing adjustments) and an additional payment of up to USD 55 million for the reimbursement of amounts to fund the point of care diagnostics platform business until the closing of the acquisition. The completion of the transaction is subject to certain conditions, including antitrust and regulatory approvals, and is currently expected to close by mid-2024.
Veronique Ameye, Chief Executive Officer of LumiraDx said, "Since our founding, we have sought to transform community-based healthcare by consolidating multiple Point of Care tests on a single instrument. We are excited to enter into this agreement with Roche as it will enable us to continue our important work and increase ...