This is the first instalment of my three-part investigative report on the Chinese-made Innova lateral flow test. Vast sums of UK taxpayers’ money have been paid to a California start-up for tests that have failed to stand up to scrutiny.
…Innova Medical Group, the company benefiting from the UK Government’s huge testing contract, is owned by the private equity group Pasaca Capital which was founded by a Chinese investment banker, the enigmatic Dr Charles Huang, in 2017. It has been revealed to be the single largest recipient of the Department of Health’s Covid contracts after signing a £496million deal to supply LFTs last year. An earlier contract with Innova cost the taxpayer £107million.