According to The Nikkei Asian Review, Japan's Konica Minolta plans to acquire Ambry Genetics of the U.S., which uses genetic data to screen for cancer, it was learned on Saturday.
The acquisition is expected to cost an estimated 100 billion yen ($US 889 million).
It is expected to be the office equipment maker's most expensive acquisition -- one that it will make by partnering with the public-private Innovation Network Corp. of Japan.
Konica has been struggling to boost its flagship multifunctional printer business. The acquisition, though, will bring the company further into the healthcare sector and give it a new revenue source.
The official announcement could come this week.
Konica and its public-private partner plan to buy all shares of the unlisted Ambry Genetics from the company's founder and other stockholders. Konica will take a 60% stake, and INCJ will own the rest.
Ambry Genetics, based in the U.S. state of California, was established in 1999.
The company can detect early-stage cancer by analyzing patients' genetic data. It also uses this data to develop effective treatments to fight the cancer.
Konica already has proprietary cancer-detecting technology called HSST, which uses florescent nanoparticles to mark proteins that attach themselves to cancer cells.
The company plans to commercialize the technology -- which can be used for drug development and individual diagnosis -- within a few years.
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