Japan-based healthcare company PHC Holdings Corporation (PHCHD) has received JPY20bn ($180.7m) investment from US-based private equity firm L Catterton.
With the investment, L Catterton will join PHCHD’s shareholders, including Kohlberg Kravis Roberts & Co., Mitsui & Co., Life Science Institute, and Panasonic Corp.
L Catterton will support further growth for the Japanese firm by leveraging its expertise, industry knowledge, and wide-ranging network in the consumer healthcare industry.
PHCHD is engaged in developing, manufacturing, marketing and offering services solutions across diabetes management, life sciences and diagnostics fields.
In 2019, the company acquired Thermo Fisher Scientific’s anatomical pathology business, currently operating as Epredia and LSI Medience, which conducts clinical testing.
PHCHD president and CEO John Marotta said: “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.”
L Catterton is a consumer-focused private equity firm, holding nearly $25bn of equity capital across its fund strategies and operating through 17 offices around the world.
Its team of nearly 200 investment and operating professionals work together with management teams around the world.
The company has significant experience investing in businesses offering consumer healthcare services, including FYI Doctors, ClearChoice, 98Point6, and Patient Point.
L Catterton Asia managing partner Chinta Bhagat 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 US and Asia.”
