• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle

George Soros and Bill Gates Have Teamed Up for $41 Million Purchase of COVID Testing Company

July 20, 2021
ICE Reportedly Declares Illegal Migrants Ineligible For Bond Hearings

ICE Reportedly Declares Illegal Migrants Ineligible For Bond Hearings

July 15, 2025
Shuttered Nuclear Plant On Verge Of Revival As America’s Grid Buckles

Shuttered Nuclear Plant On Verge Of Revival As America’s Grid Buckles

July 15, 2025
Blue State-Led Coalition Fights To Keep English Classes Open For Illegals

Blue State-Led Coalition Fights To Keep English Classes Open For Illegals

July 15, 2025
CNBC’s Rick Santelli Pours Cold Water On Narrative That Trump Tariffs Would Spike Inflation

CNBC’s Rick Santelli Pours Cold Water On Narrative That Trump Tariffs Would Spike Inflation

July 15, 2025
EXCLUSIVE: Jim Banks Presses National Park Service On Woke Projects That ‘Appear To Violate’ Trump Order

EXCLUSIVE: Jim Banks Presses National Park Service On Woke Projects That ‘Appear To Violate’ Trump Order

July 15, 2025
Chinese Buyers Grabbing Up American Homes

Chinese Buyers Grabbing Up American Homes

July 15, 2025
‘Mindboggling’: Charlamagne Says Obama’s Call For Dems To ‘Toughen Up’ Is Too Late

‘Mindboggling’: Charlamagne Says Obama’s Call For Dems To ‘Toughen Up’ Is Too Late

July 15, 2025
Trump Accuses Adam Schiff Of Mortgage Fraud, Calls For Prosecution

Trump Accuses Adam Schiff Of Mortgage Fraud, Calls For Prosecution

July 15, 2025
Trump Reportedly Wants Zelenskyy To Go For Russia’s Throat

Trump Reportedly Wants Zelenskyy To Go For Russia’s Throat

July 15, 2025
EXCLUSIVE: Top House Committee Digs Into Orgs That Turbocharged Biden Border Crisis

EXCLUSIVE: Top House Committee Digs Into Orgs That Turbocharged Biden Border Crisis

July 15, 2025
EXCLUSIVE: Rep. Andy Barr Wants To Turn Off Taxpayer Money Tap For Schools That Defy Trump’s EO On Women’s Sports

EXCLUSIVE: Rep. Andy Barr Wants To Turn Off Taxpayer Money Tap For Schools That Defy Trump’s EO On Women’s Sports

July 15, 2025
Just One Republican On House Rules Panel Votes To Release Epstein Files

Just One Republican On House Rules Panel Votes To Release Epstein Files

July 15, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Tuesday, July 15, 2025
  • Login
IJR
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls
No Result
View All Result
IJR
No Result
View All Result
Home News

George Soros and Bill Gates Have Teamed Up for $41 Million Purchase of COVID Testing Company

by Western Journal
July 20, 2021 at 10:54 am
in News
235 17
0

FILE PHOTO: Bill Gates, Co-Chair of Bill & Melinda Gates Foundation, gestures as he speaks during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25, 2018. (Denis Balibouse/Reuters)

491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

High-profile billionaires George Soros and Bill Gates are part of a group that is buying a company that makes rapid COVID-19 tests.

The purchase of Mologic Ltd. was announced by Open Society Foundations, which Soros founded.

A release on the foundation’s website said the purchase creates “Global Access Health (GAH), a social enterprise that will seek to expand access to affordable state-of-the-art medical technology through decentralized research, development, and manufacturing in and for the Global South.”

About $41 million will be ponied up by the buyers, which include the Soros Economic Development Fund and the Bill & Melinda Gates Foundation.

The release said that the company’s technology can be used to address tropical diseases such as dengue, bilharzia and river blindness in addition to COVID-19.

The statement said the purchase “transitions a world-class for-profit company into a social enterprise and allows it to entirely reinvest its profits in pursuing these goals. 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.”

“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 Sean Hinton, SEDF’s CEO.

The buyout means that “a cutting edge commercial business to focus all its resources on solving one of the world’s most pressing public health issues,” he added.

The company’s tests are essentially screening tests designed to identify the presence of the disease in people who show no symptoms.

In Britain, where the tests are used, the company’s so-called lateral flow tests need to be confirmed by a second test before an official diagnosis is given, Forbes reported.

However, according to The Telegraph, the company last month said it planned to sue the British government because Britain has not permitted the test to be used as planned. The statement announcing the purchase did not provide information about the status of any suit.

Roxana Bonnell, a public health expert with Open Society Foundations, said testing needs to be ramped up in many parts of the world, such as Africa.

“As we have seen during the COVID-19 pandemic, access to testing is absolutely essential when it comes to containing the spread of contagious disease — an issue that ultimately affects us all,” she said in the release.

“Testing, or diagnostics, are vital for everyday public health needs, to enable doctors and medical professionals to provide patients with proper treatment as early as possible.”

Mologic was founded in 2003 by CEO Mark Davis and his father, Paul Davis, who serves as the company’s chief scientific officer. Paul Davis used the same technology used for COVID-19 testing to create the Clearblue home pregnancy test.

“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,” Mark Davis said 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.”

This article appeared originally on The Western Journal.

Tags: Bill GatesCoronavirus OutbreakGeorge SoroshealthU.S. Newsworld news
Share196Tweet123
Western Journal

Western Journal

Advertisements

Top Stories June 10th
Top Stories June 7th
Top Stories June 6th
Top Stories June 3rd
Top Stories May 30th
Top Stories May 29th
Top Stories May 24th
Top Stories May 23rd
Top Stories May 21st
Top Stories May 17th

Join Over 6M Subscribers

We’re organizing an online community to elevate trusted voices on all sides so that you can be fully informed.





IJR

    Copyright © 2024 IJR

Trusted Voices On All Sides

  • About Us
  • GDPR Privacy Policy
  • Terms of Service
  • Editorial Standards & Corrections Policy
  • Subscribe to IJR

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls

    Copyright © 2024 IJR

Top Stories June 10th Top Stories June 7th Top Stories June 6th Top Stories June 3rd Top Stories May 30th Top Stories May 29th Top Stories May 24th Top Stories May 23rd Top Stories May 21st Top Stories May 17th