Precision medicine is hot and Konica Minolta wants a piece of the action. To that end, its Healthcare Americas arm is paying $1 billion to acquire Ambry Genetics.
Innovation Network Corporation of Japan (INCJ) is helping to fund the deal. Konica Minolta Healthcare Americas and INCJ will make an all-cash payment of $800 million. Ambry shareholders will get up to $200 million over the next two years.
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Konica views the deal as a “stepping stone” marking its debut as a player in the space and plans to bring Ambry’s products to Japan and then to Europe, according to a news release. Shoei Yamana, Konica Minolta CEO said in a news release that the deal marks the first in a series of initiatives to build Konica’s precision medicine profile.
“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,” Yamana said. “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.”
Ambry’s diagnostic offerings span multiple fields, including neurology, oncology and women’s health. As with most genomics services, the business will also be generating rich data as a byproduct of its sales. Konica may be able to tap into this information in myriad ways, from drug discovery to companion diagnostics and more. It’s the foundations of today’s precision medicine work.
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