PHCHD Announces JPY 20 Billion Investment by L Catterton
PHC Holdings Corporation (headquarters: Minato-ku, Tokyo, Japan, hereafter PHCHD) today announced an investment of JPY 20 billion by L Catterton (headquarters: Connecticut, US), the largest global consumer-focused private equity firm. With this transaction, L Catterton joins PHCHD’s shareholders, Kohlberg Kravis Roberts & Co. L.P., Mitsui & Co., Ltd., Life Science Institute, Inc. (a member of the Mitsubishi Chemical Holdings Group), and Panasonic Corporation, and will work together to create value.
L Catterton has significant experience investing in leading consumer healthcare services businesses including FYI Doctors, ClearChoice, 98Point6, and Patient Point. This investment signifies their expansion into the medical devices and health data businesses. As a new shareholder, L Catterton will support further growth for PHCHD by utilizing its expertise, industry knowledge, and wide-ranging network in the consumer healthcare industry.
PHCHD is a healthcare company that provides value-added products and services across diabetes management, life sciences and diagnostics globally, and healthcare services in Japan. In 2019, the company acquired the anatomical pathology business (currently operating as Epredia) from Thermo Fisher Scientific Inc. and LSI Medience Corporation which mainly conducts clinical testing business. These transactions were designed to diversify PHCHD’s business portfolios, strengthen its global business base and support future growth.
John Marotta, President and CEO of PHCHD says, “I’m delighted that we’ve completed this transaction and am excited to welcome L Catterton as our new shareholder. PHCHD is a truly global diversified healthcare platform of established brands that has achieved tremendous success worldwide. Through the combination of our innovative product and service portfolios, alongside our business system as a driver of continuous improvement, PHCHD is well positioned for continued global expansion and is ready to further execute on its strategic growth priorities. Going forward, with the expertise and support from L Catterton, we hope to be able to capture new opportunities to further expand our business and enable us to offer more value to our customers. We are confident that L Catterton is the right partner for our next chapter of growth.”
Chinta Bhagat, Managing Partner of L Catterton Asia said, “We are excited to join such a renowned group of shareholders at PHCHD to help build an innovative, global healthcare solutions company. The healthcare industry, and medical devices in particular, are rapidly shifting from a scientific and engineering orientation towards greater consumer-centricity. This positions L Catterton to leverage our deep insights and play a valuable role in the development of PHCHD’s future businesses, particularly in the U.S. and Asia. We look forward to supporting and working closely with PHCHD’s deeply experienced management team in these areas.”
About PHC Holdings Corporation
Incorporated in 2014, PHC Holdings Corporation is a global healthcare company with subsidiaries including PHC Corporation, Ascensia Diabetes Care Holdings AG, Epredia, and LSI Medience Corporation. Committed to its corporate mission that states, “We contribute to the health of society through our diligent efforts to create healthcare solutions that have a positive impact and improve the lives of people,” the company develops, manufactures, sells and services solutions across diabetes management, life sciences and diagnostics globally, as well as providing healthcare services in Japan. The PHC Group’s consolidated net sales in FY2019 were 272 billion yen with global distribution of products and services in more than 125 countries.
About L Catterton
With approximately $25 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton's team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. For more information about L Catterton, please visit www.lcatterton.com.
PHC Holdings Corporation
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Globality and BT Sourced Announce New Partnership to Unleash the Power of Procurement12.4.2021 14:00:00 CEST | Press release
Through a new partnership with Globality and BT’s new procurement company, BT Sourced, BT launched Globality’s AI-powered Smart Sourcing® Platform to transform how BT employees source and procure services. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005173/en/ “BT’s changing and so is procurement. Digitization is the driving force for long-term growth and value to the BT customer and operating model,” said Cyril Pourrat, Chief Procurement Officer, BT. “Partnering with Globality will help us to embrace digital technology and simplify our processes.” “Having immediate access to our current suppliers and Globality’s diverse global network will bring agility and new value to our teams,” added Pourrat. BT now uses Globality’s AI advisor, Glo™, to quickly and easily source the best suppliers for consulting, marketing, IT, HR, legal and other service categories. “BT is revolutionizing the way it sources services in order t
FLIR Wins DARPA Contract Worth Up to $20.5M to Develop Revolutionary New Protective Fabrics for Chem-Bio Defense12.4.2021 14:00:00 CEST | Press release
FLIR Systems, Inc. (NASDAQ: FLIR) announced it has won a contract with the Defense Advanced Research Projects Agency (DARPA) to rapidly develop novel fabrics with embedded catalysts and chemistries that can fight and reduce chemical and biological threats upon contact. The revolutionary fabrics will be incorporated into protective suits and other equipment such as boots, gloves, and eye protection that can be worn by troops on the battlefield, medical experts, healthcare workers, and more. FLIR received $11.2 million in initial funding for the potential five-year effort worth up to $20.5 million, including options. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005140/en/ The Personalized Protective Biosystems (PPB) program will create fabrics with built-in ability to fight chemical and biological agents, from VX to chlorine gas to Ebola virus. The revolutionary fabrics being developed by FLIR Systems will be incorpora
Mirum Pharmaceuticals and Vivet Therapeutics Enter into Exclusive Worldwide Option and License Agreement for Vivet’s Gene Therapy Programs Targeting Progressive Familial Intrahepatic Cholestasis12.4.2021 14:00:00 CEST | Press release
Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) and Vivet Therapeutics (“Vivet”) announced today an agreement whereby Mirum has the exclusive option to develop and subsequently commercialize Vivet’s two proprietary AAV gene therapy programs for progressive familial intrahepatic cholestasis (PFIC), subtypes 3 and 2. The two programs, VTX-803 and VTX-802, are currently being evaluated in preclinical studies by Vivet, a privately-held gene therapy biotechnology company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005354/en/ Under the terms of the agreement, Vivet will continue to advance the preclinical studies for VTX-803 and VTX-802 for PFIC3 and PFIC2, respectively. Mirum has the exclusive option to license the programs after which Mirum would lead the clinical development and any future commercialization of the programs. Until that time, Mirum will provide funding to support the continued research and development costs
Riffyn Launches Riffyn Nexus v4.2 to Strengthen Bioprocess Data Integrity With Automated Data Validation12.4.2021 13:50:00 CEST | Press release
Riffyn's pioneering cloud-based process data system for Intelligent Process Development has been upgraded with more powerful capabilities. The new features in Riffyn Nexus v4.2 enable customers to validate data real-time at a large scale with the ability to trace the root cause of an anomaly. Data integrity in process development is critical to rapid, high-quality drug and biotech product development. Inadequate data can mislead decisions and cost tens of million dollars in lost time, resources, and investment by sending an entire product development program down the wrong path. "Riffyn Nexus now gives the complete package of capabilities needed for process developers to ensure data integrity in their decision-making, while preserving their agility to innovate," said Riffyn CEO Timothy Gardner. "The new features in Riffyn Nexus automatically check all the collected data on each experiment in real-time — 3,300 samples, parameters, or measurements checked per second." Riffyn Nexus has al
The Estée Lauder Companies Announces Retirement of Alexandra Trower, Executive Vice President, Global Communications12.4.2021 13:00:00 CEST | Press release
Today,The Estée Lauder Companies (NYSE:EL) (ELC) announced that after 13 years with the company, Alexandra (Alex) Trower, Executive Vice President, Global Communications, will retire effective July 1, 2021. The successor to Alex’s role will be announced at a later date. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005450/en/ Alex Trower, Executive Vice President, Global Communications, The Estée Lauder Companies, announces retirement. (Photo: Business Wire) “Alex has been a highly respected thought-leader, collaborative partner, and a trusted senior business advisor,” said Fabrizio Freda, President and CEO, The Estée Lauder Companies. “Leveraging her deep expertise across financial, corporate, consumer and crisis communications, Alex has continuously evolved our strategic communications priorities to drive and support the rapid growth of our business. She built a truly outstanding, global, multi-disciplinary organiza
Ameriprise Financial to Acquire BMO’s EMEA Asset Management Business12.4.2021 13:00:00 CEST | Press release
Ameriprise Financial, Inc. (NYSE: AMP) today announced that it has signed a definitive agreement with BMO Financial Group (BMO) to acquire its EMEA asset management business for £615 million, or approximately $845 million. The all-cash transaction adds $124 billion of AUM in Europe and is currently expected to close in the fourth quarter of 2021, subject to regulatory approvals in the relevant jurisdictions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005470/en/ The acquisition will further accelerate Ameriprise’s core strategy of growing its fee-based businesses and increase the overall contribution of Wealth Management and Asset Management within its diversified business. Together with BMO’s EMEA asset management business, Ameriprise will have more than $1.2 trillion of assets under management and administration. The acquisition complements Columbia Threadneedle Investments’ core business and global growth strateg
Halliburton to Provide Petroleum Data Management Platform for Norwegian Petroleum Directorate12.4.2021 13:00:00 CEST | Press release
Halliburton Company (NYSE: HAL) today announced it signed an eight-year contract with the Norwegian Petroleum Directorate (NPD) to deploy and operate Diskos, the Norwegian national repository of seismic, well, and production data for the oil and gas industry. Halliburton Landmark will deliver Diskos 2.0 using DecisionSpace® 365 cloud services in iEnergy® – the industry’s first E&P hybrid cloud. The cloud native services are Open Subsurface Data Universe™ compliant and provide high quality data, security and governance so users can easily access, visualize, and interpret data from the Norwegian Continental Shelf. The open architecture and scalability of the service enables workflows across the repository and operator systems on premise, or in the cloud, to support efficient, effective and agile operations. Diskos 2.0 will use the DecisionSpace 365 cloud applications to apply machine learning and artificial intelligence to unlock the full value of subsurface data by revealing additional