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Konica Minolta to buy Ambry Genetics for $1 bn

Konica Minolta with Ambry's genetic testing capabilities together to diagnose hereditary cancer

Reuters 

A logo of Konica Minolta is pictured at a trade show for Japan's manufacturing industry in Tokyo (Photo: Reuters)
A logo of Konica Minolta is pictured at a trade show for Japan's manufacturing industry in Tokyo (Photo: Reuters)

said it was purchasing US diagnostics company in a deal valued at up to $1 billion — an acquisition that marks a strategic shift for the Japanese firm's healthcare business as it seeks a leading position in precision medicine. The deal is the largest ever for the photocopier maker, which has been seeking to diversify away its office equipment business. It pulled out of about a decade ago. said its advanced imaging technology complemented privately held Ambry's testing capabilities, with initial applications for combining the technologies seen in diagnosing "Together with Ambry, we will have the most comprehensive set of diagnostic technologies for mapping an individual's and makeup," CEO Shoei Yamana said.

In a transaction that will be partially funded by a Japanese state-backed fund, said $800 million would paid in cash upon closure of the deal while $200 million could be paid over two years depending on financial performance.


 

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