Mitsui To Join KKR And Panasonic As An Investor In Panasonic Healthcare

Mitsui & Co., Ltd. ("Mitsui"), one of Japan's largest diversified corporations, and global investment firm KKR today announced the signing of a definitive share purchase agreement for Panasonic Healthcare Holdings ("PHCHD" or "Panasonic Healthcare"), a global provider of healthcare devices. Under the agreement, Mitsui will acquire a 22% stake in PHCHD for JPY54.1 billion (US$510 million).

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161117006513/en/

Mitsui will acquire its shares from KKR, which invested in PHCHD in 2014 from its pan-regional Asian Fund II. Following the completion of this transaction, KKR will own approximately 58% of PHCHD, Mitsui approximately 22%, and Panasonic Corporation approximately 20%.

PHCHD develops, manufactures, and sells healthcare devices, focusing on blood glucose monitoring systems and strips for people with diabetes through its subsidiary Panasonic Healthcare Co., Ltd. In January 2016, PHCHD acquired Ascensia Diabetes Care ("Ascensia"), formerly the diabetes care unit of Bayer Aktiengesellschaft, a leading provider of diabetes care solutions to people with diabetes and healthcare professionals in 125 countries around the world.

Hidehito Kotani, President of PHCHD, said, "Panasonic Healthcare strives to be a global provider of innovative and customer-centric healthcare devices to help and serve our customers and contribute to the well-being of society. We believe that Mitsui's expertise, experience and networks in the healthcare business, especially in Asia, will help us grow further and compete globally. We welcome Mitsui as a shareholder that will help us in achieving our aims."

PHCHD's mission is to provide innovative technologies and accessible health care solutions to patients worldwide. The Company continually strengthens its focus on providing high-quality and life-enhancing products to diabetes patients globally given the growing incidence of the disease. According to the International Diabetes Federation, the number of people living with diabetes is expected to increase from 420 million in 2015 to 640 million people in 2040, and an estimated 60% of these people will live in emerging Asian countries.

If you liked this article you might like

Some of Trump's NFL Owner Friends Side With Players in Dispute With President

Google or Amazon Should Acquire Toys "R" Us -- Bankruptcy Lawyer Says

Toys 'R' Us Store Employees Set for Higher Wages Despite Bankruptcy

Pret A Manger Takeover in the Works; Cisco's M&A Shackles Come Off - ICYMI

Toys 'R' Us Debt Load Tips It Into Chapter 11