Akin Advises Pharmakon Funds on Sale of LumiraDx Point of Care Technology to Roche
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(London) – Akin advised Pharmakon Advisors, LP, a leading investor in non-dilutive debt for the life sciences industry, and certain of its affiliated funds, as senior secured lenders to the LumiraDx group, in connection with the sale of LumiraDx’s ‘Point of Care’ diagnostics platform business to Roche for $295 million, subject to customary closing adjustments.
The sale was implemented through a pre-packaged English administration following the appointment of administrators in December 2023. Closing was conditional on receipt of a number of required anti-trust, merger and regulatory approvals, the final of which was received in July 2024.
The Akin team was led by financial restructuring partner Emma Simmonds and supported by counsel Carone Huang and associate Abigail Beardsworth. The wider team included antitrust & international competition partner Scott Pettifor; corporate partner Simon Rootsey; finance partner Mark Mansell and tax partner Geoffrey Secol.
Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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