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March 31, 2023

Conclusion of Share Transfer Agreement for Minaris Medical

Canon Medical Systems Corporation (headquarters: Otawara, Tochigi, Japan; president: Toshio Takiguchi; hereinafter "Canon Medical") would like to announce that, as of today, it has entered into a share transfer agreement with Resonac Corporation (headquarters: Minato-ku, Tokyo, Japan; president and CEO: Hidehito Takahashi; hereinafter "Resonac"). Under this agreement, Canon Medical will purchase shares from Resonac for the purpose of acquiring Resonac subsidiaries Minaris Medical Co., Ltd. (including its subsidiary Minaris Medical (Shanghai) Co., Ltd.) and Minaris Medical America, Inc., hereinafter referred to collectively as "Minaris Medical". Through this acquisition, Canon Medical aims to further strengthen and expand its in-vitro diagnostics business.

Minaris Medical was established in 1981 as the diagnostic division of a pharmaceutical company and has since become a leader in in-vitro diagnostic reagents and automated analyzer systems. With a strong presence in the biochemical and immunoassay testing market in Japan, Minaris Medical has an extensive customer base, a strong brand, and excellent product recognition. The main products in Minaris Medical's in-vitro diagnostic reagent business, developed using its enzyme and antibody technologies, occupy a large share of the Japanese market and play an important role in providing clinical data essential for diagnosis. Their in-vitro diagnostic reagents are used in many core hospitals and major reference laboratories across Japan. Minaris Medical is also focused on developing its allergy testing business in the US market.

With diagnostic imaging as its core business, Canon Medical is globally expanding its healthcare IT and in-vitro diagnostics businesses. This expansion is based on its Made for Life philosophy, which expresses Canon Medical’s sincere desire to contribute to healthcare that protects and values human life. In the field of in-vitro diagnostics — the target of this acquisition — Canon Medical has been developing and manufacturing automated biochemical analyzer systems using its unique technologies and know-how for more than 40 years. These systems are sold to hospitals and reference laboratories across Japan, as well as many other countries via its global sales partners.

In recent years, there has been a diversification of needs in the market and the added value required by customers is becoming increasingly sophisticated. Hospitals and healthcare laboratories are in more need for higher accuracy, shorter measurement times, improved workflow, and other efficiency improvements. This agreement will allow synergy between Minaris Medical’s diverse solutions in the in-vitro diagnostics business, and Canon Medical’s technologies in the fields of automated biochemical analyzers, diagnostic imaging, and healthcare IT. By leveraging this synergy, the companies will be able to provide added value to meet the demands of the market. After this acquisition, Minaris Medical’s current organizational structure will be maintained, and the two companies will focus on business development that leverages their strengths and their brands. With the aim of helping people live a healthy life, Canon Medical will continue its efforts to contribute to the development of healthcare around the world.

[About Minaris Medical Co., Ltd.]

Company name (website)Minaris Medical Co., Ltd.
President and managing directorNaoki Kanenari
Business activitiesDevelopment, manufacture, and sales of in-vitro diagnostic reagents
Development, manufacture, and sales of automated clinical chemistry analyzers
Date founded1981
Location of headquartersHarumi Triton Square X-4F, 1-8-10, Chuo-ku, Tokyo, Japan
Number of employees350 (as of December 2021)

[About Minaris Medical America, Inc.]

Company name (website)Minaris Medical America, Inc.
President and CEOMitsutaka Shimabe
Business activitiesDevelopment, manufacture, and sales of in-vitro diagnostic reagents
Manufacture and sales of automated clinical chemistry analyzers
Date founded1979
Location of headquarters630 Clyde Ct., Mountain View, CA, USA
Number of employees59 (as of August 2022)

[About Resonac]
Resonac is a new company formed in January 2023 through the integration of Showa Denko K.K. and Showa Denko Materials Co., Ltd. (formerly Hitachi Chemicals group).
Their sales of semiconductors and electronic materials have reached 400 billion yen, about 30% of total sales. They are No. 1 globally in the field of semiconductor backend materials. Through the integration of the two companies, they are able to not only perform functional design of materials but are also capable of in-house development of raw materials. The new company name Resonac is derived from a combination of the word "resonate" and the letter "c" from the word "chemistry". By utilizing a co-creation platform, Resonac will accelerate technological innovation together with domestic Japanese and international manufacturers of semiconductors, materials, and systems. Please refer to Resonac’s website for further details:

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