A group backed by Bill Gates and George Soros bought out Mologic, a COVID-19 testing company.
The Soros Economic Development Fund confirmed in a July 19 media statement that it has partnered with the Bill and Melinda Gates Foundation. The Soros–Gates collaboration is part of the Global Access Health initiative, which will invest “at least” $41.1 million in the project, according to the statement.
The Soros and Gates foundation have formed the Global Access Health (GAH), a social enterprise. The GAH bought out Mologic and are investing at least $41 million in this deal.
In their media statement GAH says, “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. 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.”
Soros has been criticized in the United States for providing funding to left-wing prosecutors and district attorneys, including controversial St. Louis Circuit Attorney Kim Gardner and Los Angeles District Attorney George Gascon during their elections. Soros donated more than $2 million to Gascon’s campaign.
Soros has funded other left-wing prosecutors including Philadelphia District Attorney Larry Krasner, Chicago District Attorney Kim Foxx, and Baltimore City state’s attorney Marilyn Mosby.