Country for PR: Japan
Contributor: Kyodo News JBN
Tuesday, February 27 2018 - 16:00
AsiaNet
Genesis Healthcare, Pioneer of Genetic Test Service, Raises 1.65 Billion Yen Newly
TOKYO, Feb. 27, 2018 /Kyodo JBN-AsiaNet/ --

Genesis Healthcare Co., Japan's pioneer genetic testing and research company, 
has completed a third-party equity allocation to Rakuten, Inc. (TSE: 4755) and 
Omron Healthcare Co., Ltd. Genesis' Capital has increased to 3.78 billion yen, 
and Genesis' post-money valuation is approximately 42 billion yen (*1).

As the market leader in the genetic testing and research field in Japan, 
Genesis has actively pursued development of the Japanese scientific landscape 
through numerous R&D, product development, awareness raising via human resource 
development and advanced education, and genetic data translation into useful 
solutions. As of today, the company's Japanese genetic data platform exceeds 
550,000 individuals, the largest in Japan and potentially in Asia. In 2018, 
Genesis aims to accumulate data of 1 million people, or 1% of the population in 
Japan.

This will be Rakuten's second investment since its initial investment in August 
2017. Rakuten's commitment to assist in the development and advancement of 
genetic technology and its useful applications in healthcare is a novel 
approach to fostering innovation.

Secondly, Omron Healthcare and Genesis have formed a partnership since 2014. 
Both companies jointly developed a personalized health solution business model 
combining a genetic test kit from Genesis and digital health wearables from 
Omron Healthcare. The new capital will further strengthen the partnership as 
the addition of biometric information such as blood pressure from Omron's 
precision wearable devices will maximize the utility of Genesis' genetic 
data-sharing platform. By analyzing various data, both Omron Healthcare and 
Genesis will develop and provide services to predict in advance future severe 
illness, treatment to prevent the onset of the disease, and guidance on health 
management. Together, the two companies will work to promote and realize ideal 
solutions for personalized healthcare.

(*1) The equity value is based on the latest financing stock price of Omron 
Healthcare Co., Ltd. multiplied by the total number of issued shares.

As a leading company in the genetic field in Japan, Genesis will continue to 
pursue the development of genetic research and tests in Japan and then explore 
the market worldwide.

Genesis Healthcare website: http://genesis-healthcare.jp/en/


SOURCE: Genesis Healthcare Co.