LumiraDx Agrees to Sell Point-of-Care Tech Platform to Roche
December 29 2023 - 5:07PM
Dow Jones News
By Stephen Nakrosis
LumiraDx said Friday it will sell certain companies related to
its point-of-care technology to Roche.
Andrew Johnson, Lisa Rickelton and Lindsay Hallam of FTI
Consulting, who were named joint administrators the LumiraDx Group
and LumiraDx International subsidiaries, signed a definite
agreement for the sale of "certain companies of the LumiraDx group
engaged in its point of care diagnostics platform business and
certain related assets," the company said.
Under the terms of the deal, Roche will pay a purchase price of
$295 million and up to $55 million more "for the reimbursement of
amounts to fund the point of care diagnostics platform business
until the closing of the acquisition," LumiraDx said. The deal is
expected to close in mid-2024.
The company said the appointment of the administrators and the
sale to Roche are the culmination of its previously announced
strategic review led by Goldman Sachs.
LumiraDx expects all sales proceeds will be used to repay
certain amounts of the company's senior secured loan agreement,
with no proceeds being distributed to shareholders or the company,
it said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
December 29, 2023 16:52 ET (21:52 GMT)
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