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Test Maker LumiraDx to Go Public in $5 Billion SPAC Deal

  • Firm secures $300 million loan, $100 million credit facility
  • Brick-size LumiraDx device can run 30 different tests
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LumiraDx CEO Ron Zwanziger says the company wants to change community care.Source: Bloomberg)
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LumiraDx Ltd., a diagnostic company that produces Covid-19 tests, is going public through a reverse merger with a blank-check company.

The U.K.-based firm will combine with CA Healthcare Acquisition Corp. in a deal that values LumiraDx’s equity at $5 billion, the companies said in a statement.