Sale of Company to
ERBA Diagnostics Mannheim
|Date Announced:||September 2015|
Lumora is a successful provider of state-of-the-art molecular diagnostic products into both the clinical and non-clinical or industrial markets. Lumora’s technology is easy-to-deploy and use making it ideal to be deployed in fields as diverse as food safety testing, and medical diagnostics. The Company currently has products that are actively commercial has a number of leading development and commercialization partners include international biotechnology, clinical diagnostic and industrial microbiology companies Convergence had been engaged by Lumora’s Board of Directors to help the Company assess strategic alternatives for the Company.
Working with the senior team at Lumora, including CEO and Founder Laurence Tisi and Commercial Director Hayden Jeffreys, Convergence helped the Board to maximize value through a carefully constructed two-step process. ERBA Diagnostics Mannheim, a fully integrated global in vitro diagnostics company, acquired Lumora to expand its core capabilities into Molecular Diagnostics and Hospital Acquired Infections testing. This acquisition followed the earlier transaction whereby Lumora divested its Heat Elution Technology to Roche.