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Guardant Health Completes Purchase of Guardant Health AMEA Joint Venture
PALO ALTO, Calif.--(BUSINESS WIRE)-- Guardant Health, Inc. (NASDAQ:GH), a leading precision oncology company, today announced it has purchased the remaining
About this update from Guardant Health, Inc.
[{"type":"text","content":" PALO ALTO, Calif.--(BUSINESS WIRE)--\nGuardant Health, Inc. (NASDAQ:GH), a leading precision oncology company, today announced it has purchased the remaining shares of Guardant Health AMEA, Inc., held by SoftBank and its affiliates, giving the company full control over operations throughout the Asia, Middle East and Africa region.\n\nMore than half of the world’s estimated new cancer cases come from Asia, Middle East and Africa (AMEA).1 This acquisition will allow Guardant Health to directly address the growing cancer burden in the region by accelerating the adoption of the company’s blood tests and services used by healthcare providers to detect and manage cancer across all stages of the disease.\n\nGuardant Health AMEA operations support 41 countries across the region. Near term, the company will prioritize bringing blood-based testing to healthcare providers and to patients with advanced cancer in Japan, where, in March 2022, the Japanese Ministry of Health, Labour and Welfare (MHLW) granted regulatory approval of Guardant360® CDx, a liquid biopsy test for tumor mutation profiling in patients with advanced solid tumors.\n\n“By acquiring the remaining shares of Guardant Health AMEA, we can focus on creating a unified and centralized global organization that delivers on our promise to help conquer cancer and improve patient outcomes,” said Helmy Eltoukhy, Guardant Health chairman and co-CEO. “We believe our blood-based tests can play a significant role in helping address the growing incidence of cancer in the region, and we look forward to continuing to support patients facing cancer diagnoses as we expand our operations in these markets.”\n\nIn May 2018, Guardant Health and SoftBank Vision Fund established the Guardant Health AMEA joint venture to expand commercialization of Guardant Health's industry-leading liquid biopsy technology across the region. Under the terms of the parties’ joint venture agreement, Guardant Health paid approximately $177.8 million to acquire the Guardant Health AMEA equity interest held by SoftBank and its affiliates.\n\nAbout Guardant Health\n\nGuardant Health is a leading precision oncology company focused on helping conquer cancer globally through use of its proprietary tests, vast data sets and advanced analytics. The Guardant Health oncology platform leverages capabilities to drive commercial a...