PHC Holdings Corporation (headquarters: Tokyo, Japan, hereafter PHCHD) today announced that it has signed a definitive agreement with Thermo Fisher Scientific Inc. (NYSE: TMO) (hereafter Thermo Fisher), the world leader in serving science, to acquire Thermo Fisher’s Anatomical Pathology business for approximately US$ 1.14 billion.
Thermo Fisher’s Anatomical Pathology business is one of the leading providers of microscope slides, instruments and consumables in the industry and is part of Thermo Fisher’s Specialty Diagnostics Segment, operating in the US, Europe and China with approximately 1,200 employees.
PHCHD is a global healthcare company that offers value-added products and services across diabetes care, diagnostics, life sciences and healthcare IT. Aiming to achieve further business growth, PHCHD will expand its business portfolio through the acquisition of the business from Thermo Fisher.
Hidehito Kotani, Ph.D. and CEO of PHCHD commented, “We are pleased to have signed the agreement with Thermo Fisher Scientific. Their anatomical pathology business has shown steady growth with their strong customer base in global hospital markets, especially in the United States. This is a solid business with good growth potential and we believe it will create value for our stakeholders as part of our growing diagnostics and healthcare portfolio.”
PHCHD currently expects to close the transaction in the second quarter of 2019, subject to customary closing conditions and the receipt of applicable regulatory approvals.
About PHC Holdings Corporation
Incorporated in 2014, PHC Holdings Corporation is a global healthcare company. Its subsidiaries include PHC Corporation and Ascensia Diabetes Care Holdings AG. Committed to its corporate mission, “We contribute to the wellbeing of society through our diligent efforts by creating new value for all the people who wish for better health,” the company develops, manufactures, sells and services medical equipment and solutions across diabetes care, diagnostics, life sciences and healthcare IT. PHC Holdings Corporation group’s consolidated net sales in FY2017 was 192.6 billion yen with global distribution of products and services for more than 125 countries. PHC Holdings Corporation changed its name from Panasonic Healthcare Holdings Co., Ltd. in April, 2018.
For further information on PHC Holdings Corporation, please visit www.phchd.com.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, with revenues of more than $20 billion and approximately 70,000 employees globally. Its mission is to enable its customers to make the world healthier, cleaner and safer. Thermo Fisher Scientific helps its customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics, deliver medicines to market and increase laboratory productivity. Through its premier brands – Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services – the company offers an unmatched combination of innovative technologies, purchasing convenience and comprehensive support. For more information, please visit www.thermofisher.com.
Copyright Business Wire 2019