European Commission clears acquisition of Ambry Genetics

The European Commission has approved, under the EU Merger Regulation, the $1 billion acquisition of joint control over Ambry Genetics of the US by Konica Minolta and Innovation Network Corporation of Japan (INCJ), both of Japan.

Ambry Genetics is a healthcare company which provides genetic laboratory testing services and is active in related genetic research activities. Its business is focused on the US and Canada with negligible activities in the EU. Konica Minolta is a technology company specialising in imaging products, data analysis optics and nano-fabrication. It is active in 150 countries globally. INCJ is a public-private partnership of the Japanese government and 26 private companies. It pursues investment activities by providing financial, technological and management support to next generation businesses.

The Commission concluded that the proposed acquisition would raise no competition concerns given the transaction's limited impact on the market structure. The transaction was examined under the simplified merger review procedure.