Key Sentence:
- Billionaire George Soros and Bill Gates are part of one. The consortium will buy Mologic.
- The UK’s maker of Covid tests, to increase access to “affordable and modern medical technology” worldwide, said in a statement on Monday.
The Development Fund and the Bill & Melinda Gates Foundation have announced the launch of a new initiative, Global Access Health (GAH), which aims to increase the worldwide spread of thrift medical technology and the subsequent acquisition of Mologic Ltd. in. used to conduct rapid tests for Covid-19.
This technology can also be used to test for dengue, biliary, and river blindness. The rapid test, called side flow, provides early warning screening for Covid-19 and has been used worldwide to open shops, bars, sporting events, and jobs and provide early warning results to people who may not have symptoms.
But still, transmit the virus to others. Covid side flow tests must be confirmed with a second test before Covid-19 is officially diagnosed in the UK. The GAH consortium, which also includes weapons philanthropy Soros and Gates, will invest “at least” $41 million in the deal, the statement said.
“Unique transaction”
Soros and Gates are part of a community of billionaires who are trying to focus their philanthropic efforts on what is known as the Global South, especially the leading regions of Latin America, Asia, Africa, and Oceania that many fear will go for vaccinations, testing and testing Biosafety bubble program in the years to come.
Sean Hinton, CEO of the Soros Fund, said in a statement that the pandemic had demonstrated “painful underlying inequalities” in global public health, adding that a “unique deal” had brought together philanthropic funds and investors to resolve the issue.