CA Healthcare Acquisition Corp announced today that it entered a merger agreement with LumiraDx that will take the company public.
London-based LumiraDx, a point-of-care diagnostics developer, will merge with CAHC with the combination reflecting a value of $5 billion for Lumira’s existing equity, according to a news release. Since its founding, LumiraDx has raised $700 million in equity capital, including investments from Morningside Ventures, U.S. Boston Capital Corporation, The Bill & Melinda Gates Foundation, Petrichor Healthcare Capital Management and others.
Among LumiraDx’s point-of-care diagnostic offerings is its high-sensitivity COVID-19 antigen test, which has been used by the NHS in the UK and has FDA emergency use authorization in the U.S. It also offers POC tests for COVID-19 antibodies, INR and D-Dimer, all of which are available in Europe.
Under the terms of the transaction, all current LumiraDx shareholders will retain the…