Mitsui to join KKR as an investor in Panasonic Healthcare

Under the agreement, Mitsui will acquire a 22% stake in Panasonic Healthcare for JPY 54.1 billion (USD 510 million). 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 Panasonic Healthcare, Mitsui approximately 22%, and Panasonic Corporation approximately 20%. 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.” 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." He continues; "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.”