Ambry Genetics sold to joint venture formed by Konica Minolta and Innovation Network for up to $1.0 billion
Clients Ambry Genetics Corp.
Jones Day advised Ambry Genetics Corporation, a leading genetic testing corporation, in its sale to a newly formed joint venture between Konica Minolta, Inc. and Innovation Network Corporation of Japan for up to $1.0 billion (including earnouts). Ambry has the world’s most comprehensive suite of genetic testing solutions for inherited and non-inherited diseases as well as for numerous clinical specialties, including oncology, cardiology, clinical genomics, pulmonology, and neurology. Konica Minolta views the addition of Ambry as the first stepping stone to create a new medical platform aimed at fulfilling the potential of precision medicine – an emerging approach to healthcare where genetic or molecular analysis is used to match patients with the most appropriate treatment for their specific disease.
In addition to M&A representation, Jones Day provided health care, antitrust, employee benefits, and tax advice regarding this transaction.