Roche Holding AG (RHHBY), a Swiss healthcare major, on Monday said that it has concluded the previously announced acquisition of LumiraDx Limited's (LMDX) Point of Care technology, after receiving all the required antitrust and regulatory approvals.
LumiraDx is a point of care diagnostics firm with a focus on community-based healthcare.
LumiraDx's Point of Care solution will complement Roche's diagnostics portfolio across clinical chemistry, immunochemistry, coagulation and molecular, and across multiple disease areas.
Matt Sause, CEO of Roche Diagnostics, said: "Access to diagnostic testing is critical for the delivery of healthcare worldwide and we are confident that the LumiraDx platform and technology will help us expand the availability of testing, especially in settings such as primary care and low and middle income countries."
Roche will now embark on the full integration of the its multi-assay point of care platform and the related research and development, operational, and commercial sites into its global organization.
Under the terms of the deal announced last year, Roche had agreed to pay an acquisition price of $295 million and an additional payment of up to $55 million for the reimbursement of amounts to fund the Point of Care technology platform business until the closing of the deal.
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