Billionaires Bill Gates and George Soros have joined the acquisition of UK company Mologic, which helped develop Covid-19 rapid lateral flow tests.
Just as you may have thought things were starting to return to normal, Bill Gates popped up to remind us that they’re not going to be normal any time soon.
The Bill & Melinda Gates Foundation, and the Soros Economic Development Fund; an arm of Mr Soros’s Open Society Foundations, will invest at least £30 million to “improve the standard of medical technology in the developing world”
There’s only one reason Mr Gates would bother to put money into this company, and that is to return a vast profit. The only way he will do that is through the continuation of the Covid-19 fraud that has infected the lives of people across the world for the past sixteen months.
As part of the deal, Mologic and a non-profit sister company Global Access Diagnostics will be integrated into a new enterprise called Global Access Health.
“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,” said SEDF chief executive Sean Hinton.
“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.”
Mologic, is a UK-based lateral flow test developer which has created 10-minute Covid tests. Gates and Soros hope that the tests will cost as little as $1 to produce.
“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, chief executive of Mologic.
“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.”