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Bill Gates and George Soros buy out UK Covid test company Mologic

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By: TalkingFreeNet
Posted in: Celebrities

Bill Gates and George Soros buy out UK Covid test company Mologic


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George Soros and Bill Gates are part of a consortium acquiring a British developer of rapid-testing technology, including for Covid-19 and tropical diseases, to turn it into a social enterprise.

The group, led by the Soros Economic Development Fund, an investment division of the billionaire philanthropist’s Open Society Foundations, is investing at least £30 million in Mologic, which develops lateral flow and fast diagnostic technologies.

The acquisition will mean that Mologic, a for-profit company based in Bedford, will become a social enterprise called Global Access Health. The deal will allow it to reinvest its profits to help to combat gaps in the provision of global diagnostics in low-income communities and regions that “profit-focused business has failed to address”.

Source: The Times

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