Lucira Health receives court approval of bid procedures for assets

By Sarah Lizee

Olympia, Wash., March 27 – Lucira Health, Inc. secured approval of bid procedures for its assets, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the company is working to identify a stalking horse bidder for the sale.

Lucira retained Armanino LLP late last year to help market its assets. However, the company wasn’t able to complete a sale outside the protections afforded by the Chapter 11 process.

Through the bid procedures, the debtor plans to build on its prepetition marketing efforts. Armanino is launching the post-petition process and will be contacting all parties it was communicating with prior to the bankruptcy filing, including those who specifically expressed potential interest in a later process and asked to be kept informed going forward.

Under the bid procedures, the bid deadline is 5 p.m. ET on April 3, an auction will be held on April 5, and a sale hearing will take place on April 13.

The company is hoping to close the sale by April 20.

Lucira is a medical technology company based in Emeryville, Calif. The company filed bankruptcy on Feb. 22 under Chapter 11 case number 23-10242.

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