Roche expects the acquisition to enhance its capabilities in delivering decentralised patient case. Credit: OleksSH / Shutterstock.

Roche has completed the previously announced acquisition of LumiraDx‘s Point of Care technology for up to $350m.

The acquisition, which was finalised following the receipt of all necessary antitrust and regulatory clearances, marks a significant expansion of Roche’s diagnostics portfolio.

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 The deal between the parties was signed in December 2023.

The integration of LumiraDx’s technology into Roche’s operations will introduce a multi-assay point-of-care platform capable of performing a variety of immunoassay and clinical chemistry tests.

Roche said the acquisition is set to enhance its capabilities in delivering decentralised patient care and improve access to critical health information.

The LumiraDx platform has the potential for future expansion into molecular testing, which could revolutionise patient care by providing faster and more accurate diagnostic results.

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Roche Diagnostics CEO Matt Sause 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.”

In addition to enhancing Roche’s product offerings, the acquisition will also see the continuation of a partnership with the Bill & Melinda Gates Foundation.

The collaboration focuses on the development of a rapid point-of-care molecular tuberculosis test, which is expected to be more cost-effective and suitable for use in remote areas.

This initiative is aimed at improving tuberculosis detection and treatment.

LumiraDx CEO Veronique Ameye said: “We are absolutely delighted to continue our journey as part of Roche Diagnostics. Being an integral part of the Roche network opens the door to realising the full potential of our Point of Care technology, and to increasing patient access to community-based healthcare around the world.

“We look forward to writing the next chapter in our shared efforts to deliver even greater impact for patients.”