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Konica Minolta Closes Ambry Genetics Acquisition

NEW YORK (GenomeWeb) – Japanese digital technology firm Konica Minolta announced today that it has closed its previously announced acquisition of Ambry Genetics in an all-cash transaction valued at up to $1 billion.

Under the terms of the deal, Konica Minolta's Healthcare Americas subsidiary paid Ambry $800 million up front. Ambry shareholders also stand to receive up to $200 million in incremental consideration based on certain financial metrics over the next few years.

Through the acquisition, Konica Minolta aims to build off its existing capabilities in medical imaging — which include its high-sensitivity tissue testing immunostaining technology — while building a presence in the precision medicine field. Ambry offers genetic tests for a variety of inherited and non-inherited diseases, as well as for clinical specialties including oncology, cardiology, pulmonology, neurology, and general genetics.

Konica Minolta previously said it plans to bring Ambry's technology first to Japan and then to Europe, and that Ambry will become a subsidiary of Konica Minolta operating under its current name and at its existing headquarters in Aliso Viejo, California.