Konica Minolta announced that it plans to acquire Ambry Genetics in a deal valued at $1 billion.
Ambry Genetics develops genetic testing for inherited and noninherited diseases, as well as for clinical specialties such as oncology, cardiology, pulmonology, neurology, and general genetics. Konica Minolta is the parent company of Konica Minolta Healthcare Americas.The purchase supports Konica's strategy to pursue precision medicine -- a healthcare approach that uses genetic or molecular analysis to match patients with appropriate treatment for their disease, the company said. It plans to bring Ambry's genetic testing tools first to Japan and then to Europe.
The deal will be partially funded by the Innovation Network Corporation of Japan (INCJ), with $800 million paid on closure of the acquisition and $200 million paid over the following two years, according to the firm. The transaction is expected to close in the third quarter of fiscal 2017, after which Ambry will become a subsidiary of Konica Minolta, operating under the Ambry name and headquartered in Aliso Viejo, CA.
