Hiro Hirano, Member & CEO of KKR Japan, said, "Since 2014, we have worked closely with Panasonic Healthcare's strong management team to grow the company and capture new opportunities at home and across borders. There is still much that can be done, and we will continue to support the company's long-term growth. The partnership with Mitsui will greatly enhance the global opportunities for PHCHD."Koji Nagatomi, Chief Operating Officer of Mitsui's Healthcare & Service Business Unit, said, "PHCHD manufactures and sells blood glucose monitoring systems and other healthcare devices globally, and has expanded its business operations as one of the world's leading manufacturers of medical equipment. By leveraging Mitsui's network of Asian healthcare organizations, we are confident of contributing to accelerating PHCHD's growth in collaboration with KKR and Panasonic. We believe that this initiative will also contribute to the creation of service structures that will enhance the convenience of treatment for diabetes sufferers." The medical and health care industry has been a key focus area for Mitsui, which has been actively investing in hospital and ancillary businesses in Asia. Through this investment in PHCHD, Mitsui will be able to collaborate with its existing investments in medical institutions and its overseas customer base to promote and support the sale of PHCHD's medical devices and to strengthen the ability of medical institutions to attract patients. In the emerging markets of Asia, Mitsui aims to build a diabetes treatment service network matched to occurrence of the disease, establishing an easy-to-use ecosystem for patients. KKR has been investing in Japan through its pan-regional private equity funds since 2010. Japan has been and continues to be a key focus for KKR in the region. To date, KKR has completed three acquisitions in the market: Intelligence Ltd., a leading human resources services company; PHCHD, the carve-out health care business of Panasonic Corporation; and Pioneer DJ, the carve-out DJ equipment business of Pioneer Corporation.
The transaction is subject to customary approvals.About Panasonic Healthcare Holdings Co., Ltd.Incorporated in 2014, Panasonic Healthcare Holdings Co., Ltd. (shareholder structure: KKR 80%; Panasonic Corporation 20%) is involved in developing, manufacturing, selling and servicing medical equipment and solutions through its subsidiaries Panasonic Healthcare Co., Ltd. and Ascensia Diabetes Care Holdings Co., Ltd. It seeks to strengthen its three core businesses for In Vitro diagnostics devices, Medical IT and Laboratory and Medical Support devices to contribute to the wellbeing of society by creating new value propositions for all the people who wish for better health. For further information on Panasonic Healthcare Holdings, please visit http://www.panasonic-healthcare.com/global/phchd/. President: Hidehito KotaniHeadquarters: Minato-ku, Tokyo, JapanIncorporation: 2014 About KKRKKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.