LumiraDx to Become Publicly Traded following Successful Closing of Merger with CA Healthcare Acquisition Corp.
- LumiraDx’s common shares will commence trading on
September 29, 2021on Nasdaq under the ticker symbol “LMDX”
- The Merger values LumiraDx at
$3.0 billion(excluding the amounts raised by CAHC in its initial public offering)
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210928006168/en/
LumiraDx Platform and Test Strip (Photo: Business Wire)
LumiraDx is positioned to drive transformation in diagnostic testing with a pipeline of 30+ assays across common health conditions including infectious diseases, cardiovascular diseases, diabetes, and coagulation disorders.
The LumiraDx platform is being used by
“LumiraDx was founded to disrupt current point of care diagnostic options by providing rapid and highly accurate results wherever the patient is,” said
The Merger values LumiraDx at
“The management team of LumiraDx has decades of entrepreneurial success in the point of care setting and we believe the LumiraDx Platform provides a significant opportunity for our shareholders,” said
LumiraDx has shipped more than 15,000 Platforms globally, with tests being rolled out in more than 90 countries. LumiraDx’s COVID-19 antigen and antibody tests have received Emergency Use Authorization (EUA) from the
Evercore, Inc. and
LumiraDx is a next-generation point of care diagnostics company that is transforming community-based healthcare. Founded in 2014, LumiraDx manufactures and commercializes an innovative diagnostic Platform that supports a broad menu of tests with lab comparable performance at the point of care. LumiraDx diagnostic testing solutions are being deployed by governments and leading healthcare institutions across laboratories, urgent care, physician offices, pharmacies, schools, and workplaces to screen, diagnose, and monitor wellness as well as disease. LumiraDx has, on the market and in development, 30+ tests covering infectious diseases, cardiovascular diseases, diabetes, and coagulation disorders, all on the LumiraDx Platform. In addition, LumiraDx has a comprehensive portfolio of fast, accurate, and cost-efficient COVID-19 testing solutions from the lab to point of need.
LumiraDx is based in the
More information may be found at LumiraDx.com
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or CAHC’s or LumiraDx’s future financial or operating performance. For example, LumiraDx’s positioning in the market, the size of the addressable market, and the timing of regulatory approvals or clearances are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by CAHC and its management, and LumiraDx and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: 1) the outcome of any legal proceedings that may be instituted against LumiraDx or others following the announcement and/or closing of the Merger and any definitive agreements with respect thereto; 2) the ability to meet the Nasdaq’s listing standards following the consummation of the Merger; 3) the risk that the Merger disrupts current plans and operations of LumiraDx as a result of the announcement and consummation of the Merger; 4) the ability to recognize the anticipated benefits of the Merger, which may be affected by, among other things, competition, the ability of LumiraDx to grow and manage growth profitably, maintain relationships with customers, manufacturers and suppliers and retain its management and key employees; 5) costs related to the Merger; 6) changes in applicable laws or regulations; 7) the possibility that LumiraDx may be adversely affected by other economic, business and/or competitive factors; 8) LumiraDx’s estimates of its financial performance; and 9) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Proxy Statement and Prospectus filed by LumiraDx pursuant to Rule 424(b)(3) with the