New Diagnostics Company Onvaro Formed to Expand Decentralized Testing

Sapphiros, a diagnostics platform backed by investment funds managed by KKR, and binx health, a point-of-care diagnostics company backed by Hildred, have combined to form Onvaro. The new diagnostics company is focused on expanding access to testing across healthcare and consumer settings. The combination brings together binx health’s established point-of-care molecular diagnostics platform and commercial network with Sapphiros’ diagnostic technologies, manufacturing capabilities, and product pipeline, with the goal of extending testing beyond conventional laboratory settings.

Onvaro’s commercial portfolio will be anchored by the binx io platform, an FDA-cleared, CLIA-waived molecular point-of-care system with more than 1,000 installed instruments. The platform is supported by a national distribution network that will provide a commercial infrastructure for introducing additional diagnostic products developed by the combined company.

Sapphiros contributes proprietary printed electronics, blood collection technologies, and scalable diagnostic development capabilities. Its product pipeline covers respiratory testing, women’s health, and infectious diseases. The broader portfolio also includes molecular diagnostics, digital and visual lateral-flow testing, and blood collection technologies, with new products subject to applicable regulatory clearances or approvals.

The combined company is also developing a connected diagnostics platform designed to capture test results at the point of testing and link patients with healthcare providers, telehealth services, pharmacies, and other care options. The approach aims to improve coordination between testing and treatment while supporting faster clinical decision-making across decentralized healthcare settings.

Onvaro plans to offer diagnostic testing through physician offices, urgent care clinics, pharmacies, retail locations, and the home. By combining established molecular testing systems with newer diagnostic technologies, the company intends to broaden access to testing outside centralized laboratories and support more convenient diagnostic workflows.

Investment funds managed by KKR, along with Hildred and EQT Life Sciences, are providing capital to support Onvaro’s development and commercial expansion. KKR and Hildred initially invested in Sapphiros and binx health, respectively, in 2021. The new investment will support the combined company’s long-term product development and growth strategy.

“Onvaro starts from a position of strength — commercial products in market, a deep pipeline, differentiated technology and manufacturing capabilities, and an exceptional team,” said Mike Karsonovich, Chief Executive Officer of Onvaro. “Our opportunity now is to bring these strengths together and build a platform that reaches patients wherever testing happens — making high-quality diagnostics faster, more accessible, and more connected to care.”