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LumiraDx, a next-generation point of care diagnostic testing company, has completed its merger with CA Healthcare Acquisition Corp. (CAHC), valuing LumiraDx at
CA Healthcare Acquisition Corp. (CAHC) announced that the U.S. Securities and Exchange Commission (SEC) has declared effective LumiraDx's registration statement regarding their merger. The definitive proxy statement has been submitted, and a Special Meeting for stockholders is scheduled for September 28, 2021, to vote on the business combination. Stockholders can vote until September 27, 2021, at 11:59 PM ET. This merger is poised to bring significant advancements in the diagnostics sector with LumiraDx's innovative testing platforms.
LumiraDx and CA Healthcare Acquisition Corp (CAHC) have revised the terms of their merger, reducing LumiraDx's pro forma enterprise value from $5 billion to $3 billion. The adjustment responds to market conditions and feedback from shareholders. LumiraDx has successfully expanded its testing services and has plans for growth in the point-of-care diagnostics market, particularly in cardiovascular and infectious diseases. The transaction, expected to close this fall, is anticipated to enhance long-term shareholder value.
CA Healthcare Acquisition Corp (Nasdaq: CAHC) has entered into a definitive merger agreement with LumiraDx Limited, valuing LumiraDx at $5.0 billion. LumiraDx, a leader in point of care diagnostics, has raised $700 million since its inception, with significant investments from notable partners. The company’s COVID-19 antigen test has received Emergency Use Authorization from the FDA and is deployed in numerous countries globally. A new financing of $400 million has been secured to support growth and product development. The deal is anticipated to close late Q2 or early Q3 2021, subject to shareholder approval.
