INCJ, Konica Minolta acquire Ambry Genetics for $1b
Innovation Network Corporation of Japan (INCJ) and imaging giant Konica Minolta have completed a $1 billion joint acquisition of US-based Ambry Genetics, with a view to growing the company in Japan.
According to a release, the transaction will allow the investors to create a new medical platform. It is planned to include diagnostic tests, bio-imaging systems and proteomic services for a range of disease treatments worldwide. The expansion will be initially carried out in Japan before extending to Europe.
"The combination of [Ambry's] bioinformatics capabilities, alongside Konica Minolta's HSTT [high-sensitivity tissue testing] technology, will create new opportunities for drug discovery and clinical trials not currently available," Kiyotaka Fujii, senior executive officer and president for global healthcare at Konica, said in a separate statement. "Konica Minolta will look to accelerate innovations by drawing on the strengths of both companies."
Founded in 1999, Ambry claims to have the world's most comprehensive suite of genetic testing products for inherited and non-inherited diseases as well as for a number of specialist areas such as oncology, cardiology and neurology. The company aims to leverage Konica's experience in materials science, nanofabrication, optics and imaging for product development in technologies including X-ray and ultrasound.
INCJ, a state-backed investor with a remit to support the creation of Japanese businesses, has participated in a number of similar corporate transactions. This activity includes a $850 million investment alongside Marubeni Corporation for a 50% stake in UK wind power firm Seajacks International. Earlier this month, the GP participated in a consortium including Apple, Dell and Bain Capital to buy a microchip unit of Toshiba Corporation for about $18 billion.
Previous healthcare investments by INCJ include US-based KBI BioPharma, stem cell technology player Megakaryon, DNA sequencing process technology company Quantum Biosystem, and tuberculosis treatment developer Create Vaccine.
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