Roche Enters Definitive Agreement to Acquire LumiraDx’s Point of Care Technology Combining Multiple Diagnostic Modalities on One Platform

F. Hoffmann-La Roche Ltd

  • The transformative point-of-care solution will complement Roche’s centralized diagnostics portfolio in clinical chemistry, immunochemistry, coagulation and molecular medicine and across multiple disease areas

  • LumiraDx’s technology integrates multiple Point of Care tests into one easy-to-use tool and provides more accessible and affordable testing to patients around the world

  • According to the terms of the contract RChairman will pay a purchase price of US$295 million and an additional payment of up to US$55 million

Basel, December 29, 2023 – Roche (SIX: RO, ROG; OTCQX: RHHBY) today announced that it has entered into a definitive agreement to acquire selected parts of the LumiraDx Group (NASDAQ GS: LMDX) related to LumiraDx’s innovative Point of Care technology . Upon closing of the transaction, which is expected by mid-2024, the acquired businesses will be fully integrated into Roche Diagnostics.

“Adding LumiraDx technology to our diagnostic portfolio will allow us to transform point-of-care testing,” said Matt Souse, CEO of Roche Diagnostics. “LumiraDx has developed a highly flexible platform that delivers strong performance across a variety of disease areas and technologies. We believe this will enable better patient access to timely results in decentralized healthcare facilities around the world.”

Véronique Ameyer, CEO of LumiraDx, added: “Since our founding, we have sought to transform community-based healthcare by consolidating multiple Point of Care tests into a single tool. We are excited that Roche will continue this important work and increase its reach around the world. This will allow more patients to gain quick and easy access to better diagnostic testing.

The transaction is part of Roche’s vision to deliver more patient-centric healthcare with Point of Care solutions that span the entire patient journey – from the home, pharmacy and GP to the emergency room, intensive care unit and beyond. The acquired technology platform offers a wide range of immunoassay and clinical chemistry tests, with great potential for additional tests of high medical value in the future. They can be stored at room temperature, allowing convenient operation in a range of decentralized healthcare settings. By leveraging its broad global reach and established partner network, Roche will be able to provide access to timely and accurate diagnostic results when and where patients need them most.

Terms of acquisition
The transaction is subject to certain conditions, including antitrust and regulatory approvals.

Under the terms of the agreement, upon closing of the transaction, Roche will pay a purchase price of US$295 million (subject to customary closing adjustments) and an additional payment of up to US$55 million in refunds to finance the Point of Care technology platform business until the completion of this acquisition. The transaction is part of a pre-packaged administration sale in the UK, with the full support of the group’s senior secured creditor LumiraDx.

About Roche
Founded in 1896 in Basel, Switzerland, as one of the first industrial manufacturers of branded drugs, Roche has grown to become the world’s largest biotechnology company and a world leader in in vitro diagnostics. The company is committed to scientific excellence to discover and develop medicines and diagnostics to improve and save lives around the world. We are a pioneer in personalized healthcare and want to further transform the way healthcare is delivered to have even greater impact. To provide the best care for every person, we partner with many stakeholders and combine our strengths in diagnostics and pharmacy with data from clinical practice.

In recognition of our commitment to pursuing a long-term perspective in everything we do, Roche has been named one of the most sustainable companies in the pharmaceutical industry by the Dow Jones Sustainability Indices for the fifteenth consecutive year. This distinction also reflects our efforts to improve access to healthcare together with local partners in every country in which we operate.

Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan.

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