A group of investors led by the Soros Economic Development Fund (SEDF) and the Bill & Melinda Gates Foundation have financed the buyout of UK diagnostic technologies firm Mologic, which has developed a 10-minute coronavirus test.
To make the acquisition, the group has launched Global Access Health (GAH), a social enterprise aiming to expand access to affordable medical technology. The members of the GAH are reportedly set on investing over $41 billion in the acquisition deal. The transaction will include the buyout of all Mologic’s existing shares, including those held by two private investment managers, Foresight Group LLP and Calculus Capital.
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