LumiraDx Limited’s Merger Agreement with CA Healthcare Acquisition

Goodwin Procter, Fried Frank and Appleby advised LumiraDx Limited on the deal, while Sidley Austin LLP acted for CA Healthcare Acquisition Corp.

LumiraDx Limited announced its definitive merger agreement with SPAC CA Healthcare Acquisition Corp (Nasdaq: CAHC). The combination reflects a value of $5.0 billion for LumiraDx’s existing equity, before giving effect to the transaction. The “De-SPAC” transaction values the enlarged LumiraDx group in excess of US$3 billion. 

Update; Trading on Nasdaq began on 29 September 2021 under the ticker symbol “LMDX” for the common shares and “LMDXW” for the warrants assumed by LumiraDx from CAHC.

LumiraDx a next-generation point of care diagnostics testing company aimed at transforming community base care by providing a broad menu of tests, with lab-comparable performance, at low cost within minutes on the same Platform. LumiraDx has various test already on the market, including its high sensitivity antigen test for COVID-19 on the LumiraDx Platform. The test is currently being used by the National Health Service and Boots in the UK, CVS Health in the U.S., a significant number of accident and emergency rooms in Italy and other parts of Europe and is being deployed in partnership with the Bill and Melinda Gates Foundation in a growing number of African countries where access to laboratory diagnostics is limited.

CA Healthcare Acquisition Corp is a special purpose acquisition company focused on investing in a growth-oriented healthcare company.

The Goodwin team was led by Edwin O’Connor (Picture), Paul Rosie, and Kathryn Weston, and included Laurie Burlingame and Owen Remeika (Corporate), Jocelyn Arel and Mike Patrone (SPAC), Duncan Greenhalgh and Megan Gustafson (IP), Andy Barton and Andre Amorim (ERISA), Stephanie Philbin and Sarah Wicks (Regulatory), with invaluable assistance from Elena Hera. Paul Schwartz leads Goodwin’s ongoing counsel to LumiraDx.

The Sidley team is being led by Alex Temel, Josh DuClos, David Ni, and Dan Rawner, and includes Jordan Baber, Albertina Kawatu, Garret Wade, and Kourosh Azin, as well as Patrick Harrison, Karen Kazmerzak, and Stewart Inman, Stacy Crosnicker, Peter McCorkell, Richard Schneider, Bethany Wise, Torrey Cope, Marie Manley, Diane McEnroe, Helen Middleton, Zina Chatzidimitiriadou, Rachael Hunt, Donielle McCutcheon, Kim Schroer, Francesca Blythe, Tom Cunningham, William Long, Lauren Kitces, Chris Brause, Rachel Kleinberg, Jonathan Westreich, Jennifer Coplan, Lauren Grau, Daphne Chen, Jim Ducayet, and Michael Mann.

The Fried Frank team was led by corporate partners Ian Lopez and Warren S. de Wied, and included tax partners Joseph E. Fox, Alan S. Kaden, and Nick Thornton; executive compensation & ERISA partner Jason R. Ertel; corporate partner Neil Caddy; litigation partner Scott B. Luftglass; corporate associates Nick Skill, James Frecknall, Ryan T. Fung, Sarah Goodwin, Nina Marot, Adrian Packer, Andrew Steiger, Jacqueline Punjabi, and Sophie Tenn; executive compensation & ERISA associate Samantha Steinfeld Rozell; tax associates Thomas Bramall, Shane C. Hoffmann, and Richard Pilgrim; trainee associates Amal Awad, Yolanda Chan, Natalia Ivanova, and Indre Kazlauskaite; tax law clerk Michael Stepan; and executive compensation & ERISA law clerk Michael White.

The Appleby team comprised of Andrew Weaver, Simon Raftopoulos, and Anna-Lise Wisdom,  with support from Chris Smedley, and Appolina Bent.

Involved fees earner: Appolina Bent – Appleby; Simon Raftopoulos – Appleby; Chris Smedley – Appleby; Andrew Weaver – Appleby; Anna-Lise Wisdom – Appleby; Thomas Bramall – Fried Frank Harris Shriver & Jacobson; Warren de Wied – Fried Frank Harris Shriver & Jacobson; Jason Ertel – Fried Frank Harris Shriver & Jacobson; Joseph Fox – Fried Frank Harris Shriver & Jacobson; James Frecknall – Fried Frank Harris Shriver & Jacobson; Ryan Fung – Fried Frank Harris Shriver & Jacobson; Sarah Goodwin – Fried Frank Harris Shriver & Jacobson; Shane Hoffmann – Fried Frank Harris Shriver & Jacobson; Alan Kaden – Fried Frank Harris Shriver & Jacobson; Ian Lopez – Fried Frank Harris Shriver & Jacobson; Scott Luftglass – Fried Frank Harris Shriver & Jacobson; Nina Marot – Fried Frank Harris Shriver & Jacobson; Neil Caddy – Fried Frank Harris Shriver & Jacobson; Adrian Packer – Fried Frank Harris Shriver & Jacobson; Richard Pilgrim – Fried Frank Harris Shriver & Jacobson; Jacqueline Punjabi – Fried Frank Harris Shriver & Jacobson; Nick Skill – Fried Frank Harris Shriver & Jacobson; Andrew Steiger – Fried Frank Harris Shriver & Jacobson; Samantha Steinfeld Rozell – Fried Frank Harris Shriver & Jacobson; Sophie Tenn – Fried Frank Harris Shriver & Jacobson; Nick Thornton – Fried Frank Harris Shriver & Jacobson; Andre Amorim – Goodwin Procter; Jocelyn Arel – Goodwin Procter; Andy Barton – Goodwin Procter; Laurie Burlingame – Goodwin Procter; Duncan Greenhalgh – Goodwin Procter; Megan Gustafson – Goodwin Procter; Elena Hera – Goodwin Procter; Edwin O’Connor – Goodwin Procter; Michael Patrone – Goodwin Procter; Stephanie Philbin – Goodwin Procter; Owen Remeika – Goodwin Procter; Paul Rosie – Goodwin Procter; Paul Schwartz – Goodwin Procter; Kathryn Weston – Goodwin Procter; Sarah Wicks – Goodwin Procter; Kourosh Azin – Sidley Austin LLP; Jordan Baber – Sidley Austin LLP; Francesca Blythe – Sidley Austin LLP; Christian Brause – Sidley Austin LLP; Zina Chatzidimitriadou – Sidley Austin LLP; Daphne Chen – Sidley Austin LLP; Torrey Cope – Sidley Austin LLP; Jennifer Coplan – Sidley Austin LLP; Stacy Crosnicker – Sidley Austin LLP; Thomas Cunningham – Sidley Austin LLP; Jim Ducayet – Sidley Austin LLP; Joshua DuClos – Sidley Austin LLP; Lauren Grau – Sidley Austin LLP; Patrick Harrison – Sidley Austin LLP; Rachael Hunt – Sidley Austin LLP; Stewart Inman – Sidley Austin LLP; Albertina Kawatu – Sidley Austin LLP; Karen Kazmerzak – Sidley Austin LLP; Lauren Kitces – Sidley Austin LLP; Rachel D. Kleinberg – Sidley Austin LLP; William Long – Sidley Austin LLP; Maria Isabel Manley – Sidley Austin LLP; Michael Mann – Sidley Austin LLP; Peter McCorkell – Sidley Austin LLP; Donielle McCutcheon – Sidley Austin LLP; Diane McEnroe – Sidley Austin LLP; Helen Middleton – Sidley Austin LLP; David Ni – Sidley Austin LLP; Daniel Rawner – Sidley Austin LLP; Richard Schneider III – Sidley Austin LLP; Kim Schroer – Sidley Austin LLP; Alexander Temel – Sidley Austin LLP; Garret Wade – Sidley Austin LLP; Jonathan Westreich – Sidley Austin LLP;

Law Firms: Appleby; Fried Frank Harris Shriver & Jacobson; Goodwin Procter; Sidley Austin LLP;

Clients: CA Healthcare Acquisition Corp.; LumiraDx Limited;