Billionaires George Soros and Bill Gates are getting into the ‘so hot right now’ market of COVID testing, something that does not seem to be going anywhere anytime soon. The two men are part of a consortium that will buy the U.K.-based company Mologic.
Mologic makes covid tests, and in a statement released Monday, the goal is to increase access to “affordable state-of-the-art medical technology” around the world. Apparently Soros and Gates are part of a billionaire community using their wealth to get involved in regions of Latin America, Asia, Africa and Oceania that many fear will perish as more affluent western countries accelerate their vaccination programs, testing and “biosecure bubbles.”
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 rapid so-called lateral flow tests offer an early-warning screening for Covid-19 and have been used around the world as an aid to help reopen shops, bars, sporting events and workplaces by giving an early warning result for people who may have no symptoms but are still infectious and can give the virus to others. In the U.K., lateral flow Covid tests need to be confirmed by a second test before Covid-19 is officially diagnosed.
The GAH consortium, which includes Soros’ and Gates’ philanthropic arms, will invest “at least” $41 million in this deal, according to the statement.