Billionaires George Soros and Bill Gates are part of a consortium set to buy Mologic, a U.K.-based maker of Covid tests, in an effort to increase access to “affordable state-of-the-art medical technology” around the world, according to a statement released Monday. The Soros Economic Development Fund and the Bill & Melinda Gates Foundation announced the launch of a new initiative, Global Access Health (GAH), aiming to strengthen the global rollout saving medical technology and the subsequent acquisition of Mologic Ltd, best known today for the deep-nostril technology used to deliver rapid Covid-19 tests. The technology can also be used to test for dengue, bilharzia and river blindness. The GAH consortium, which includes Soros’ and Gates’ philanthropic arms, will invest “at least” $41 million in this deal, according to the statement. Mologic was founded in 2003 as a for-profit medical research and innovation laboratory by CEO Mark Davis and his father, Paul Davis, who is Mologic’s chief scientific officer.
— source forbes.com | Jul 19, 2021
