CA Healthcare Acquisition today announced a definitive merger agreement with LumiraDx, a next-generation point of care diagnostics testing company. The combination reflects a value of $5 billion for Lumira’s existing equity, before giving effect to the transaction.
LumiraDx has raised $700 million in equity capital including investments by Morningside Ventures, U.S. Boston Capital Corporation, The Bill & Melinda Gates Foundation, Petrichor Healthcare Capital Management and other strategic partners. The company had originally planned a traditional IPO before taking the SPAC route to market.
CA Healthcare raised $115 million in its IPO. At the time of publication, the SPAC had not yet filed an 8-K outlining terms of the merger transaction. The deal is expected to close late Q2 or early Q3.
Assuming shareholder approval, upon closing LumiraDx shares are expected to trade on the Nasdaq under LMDX. Read more.
