Konica Minolta Holdings, a large Japanese developer of photographic technology, announced the purchase of Ambry Genetics – genetic lab, founded in the USA back in 1999. In such a way, it intends to establish itself in the healthcare market.
Minolta’s developments already include medical photo equipment, but deepening in the field of genetic research will allow it to expand the scope of influence. And what is more – its assortment and income, as the revenues of Konica Minolta have decreased in the key activity areas lately.
The Japanese holding seems to be likely to completely change its sphere of activity, focusing on the development of healthcare technologies, reports The New York Times.
The price of the deal comprises $1 billion. Under the agreement conditions, the first $800 million will be paid in cash immediately after the merger of Ambry Genetics takes place, and the rest of $200 million – after the income of Ambry Genetics (and correspondingly Konica Minolta) reaches a definite level.
The holding will close the deal in cooperation with the investment fund INCJ, created with the support of Japanese government. Konica Minolta will pay out 60% of the bespoke amount, and INCJ – 40%.