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The group has financed the acquisition of Mologic Ltd, a world leading innovator in the development of lateral flow and rapid diagnostic technologies including tests that can help combat tropical diseases such as dengue, bilharzia, and river blindness, as well as for COVID-19.
This transformation will give it the ability to address gaps in the provision of global diagnostics in low-income communities and regions that profit-focused business has failed to address.
“Mologic’s transition into a social enterprise is a deliberate, logical, and natural step for a company focused on delivering affordable diagnostics and biotechnology to places that have been left underserved by the relentless pursuit of profiteering,” said Mark Davis in the statement. “With the support of our shareholders, donors, and partners, we have come a long way. We believe we have the people and the skills required for the challenges and opportunities ahead. And we hope this unique transaction will be an example for others to follow.”
“The COVID-19 pandemic has painfully demonstrated the fundamental inequities in global public health, and in particular the crucial importance of access in low- and middle-income countries to low-price, high-quality life-saving diagnostic tools,” Davis added. “In this unique transaction, philanthropic funds and investors are working together with a skilled and visionary management team in a truly innovative way to address at least one part of that failure by enabling a cutting edge commercial business to focus all its resources on solving one of the world’s most pressing public health issues.”
This is another attempt by Soros to undermine government everywhere, especially in the United States and Eastern Europe where his groups have pumped billions into areas to control local politicians and change laws by stealth and policy moves.