LumiraDx to Become Publicly Traded following Successful Closing of Merger with CA Healthcare Acquisition Corp.
LumiraDx Limited (“LumiraDx”), a next-generation point of care (“POC”) diagnostic testing company and CA Healthcare Acquisition Corp. (“CAHC”), a special purpose acquisition company traded on Nasdaq, today announced the completion of the previously announced merger. CAHC stockholders approved the merger (the “Merger”) during a special meeting held today and final voting results will be disclosed by CAHC on a Form 8-K to be filed with the Securities and Exchange Commission (“SEC”). LumiraDx securityholders also voted to approve all of the proposals today required to be passed in connection with the Merger. Trading will begin on Nasdaq on September 29, 2021 under the ticker symbol "LMDX” for the common shares and “LMDXW” for the warrants assumed by LumiraDx from CAHC.
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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 CVS Pharmacy Inc in the U.S., the National Health Service and Boots in the UK, a significant number of accident and emergency rooms in Italy and other parts of Europe, hospital systems in Japan and across South America, and is being deployed in partnership with the Bill & Melinda Gates Foundation in a growing number of African countries where access to high quality diagnostics is limited. LumiraDx currently has 5 LumiraDx Platform tests in the market, including its comprehensive portfolio of fast, accurate, and cost-efficient COVID-19 testing solutions and has 10 scheduled for regulatory submission or clearance by the end of 2022, including tests for troponin, flu/COVID, and congestive heart failure.
“LumiraDx was founded to disrupt current point of care diagnostic options by providing rapid and highly accurate results wherever the patient is,” said Ron Zwanziger, Chairman and CEO of LumiraDx. “Our testing technology, which allows us to rapidly scale and offer lab-comparable testing with fast results across health conditions, is impacting healthcare across market segments, including the physician’s office, retail pharmacy, emergency care, and global health. Now, as a publicly-traded company, we can accelerate our expansion across geographies and health conditions, impacting global healthcare and testing access and bringing value to our shareholders and customers.”