A global digital technology company, Konica Minolta and Ambry Genetics Corporation announced the signing of a definitive agreement for a subsidiary of Konica Minolta to acquire Ambry. The transaction is partially funded by Innovation Network Corporation of Japan. $800 million will be paid upon closure, and there will be an additional payment of up to $200 million based on certain financial metrics over the next two years, valuing the acquisition up to a total of $1.0 billion.
Ambry is known as a pioneer and thought leader in genetic testing being the first laboratory in the world to offer such tests as hereditary cancer panels and clinical exome sequencing.
Konica Minolta views the addition of Ambry as the first stepping-stone to create an exciting new medical platform aimed at fulfilling the potential of precision medicine – an emerging approach to healthcare where genetic or molecular analysis is used to match patients with the most appropriate treatment for their specific disease. Precision medicine aims to improve a patients’ quality of life and save the healthcare system money by eliminating unnecessary and ineffective treatments. Konica Minolta plans to bring Ambry’s capabilities first to Japan, and then to Europe.
“This acquisition is the first in a series of strategic initiatives to secure a leading position for Konica Minolta in precision medicine”, said Shoei Yamana, President and CEO of Konica Minolta. “The future of medicine is patient-focused. Together with Ambry, we will have the most comprehensive set of diagnostic technologies for mapping an individual’s genetic and biochemical makeup, as well as the capabilities to translate that knowledge into information the medical community can use to discover, prevent, and cost-effectively treat diseases. This will not only serve as the future foundation for our healthcare business, but will pave the way for a fundamental shift in the way medicine is practiced globally.”
The acquisition of Ambry and the advancement of precision medicine marks a strategic and important shift for Konica Minolta’s healthcare business. Leveraging its long history of innovation in materials science, nanofabrication, optics, and imaging, Konica Minolta has developed a comprehensive range of technologies and services in the healthcare field spanning digital X-ray diagnostic imaging systems, diagnostic ultrasound systems, and ICT service platforms for medical institutions.
“We’re excited by this opportunity to combine both our companies’ technologies to unlock new opportunities for precision medicine,” said Charles Dunlop, President and Chairman of Ambry Genetics. “As a part of Konica Minolta, we will have the resources, technology, and scale to advance biomedical research and enable the matching of more patients in more countries with specialized medicines that target the underlying cause of their illness.”