PHC, a Japan-based healthcare brands company backed by local conglomerates Mitsubishi Chemical and Panasonic, has raised Y20bn ($181m) from consumer-focused private equity firm L Catterton.
PHC’s existing shareholders include private equity firm Kohlberg Kravis Roberts, financial services group Mitsui Life Science Institute, (a member of the Mitsubishi Chemical Holdings Group) and Panasonic.
L Catterton has previously backed other consumer healthcare services businesses including FYI Doctors, ClearChoice, 98Point6, and Patient Point.
PHC provides medical devices and health data businesses, such as the anatomical pathology business (currently operating as Epredia) and LSI Medience, which mainly conducts clinical testing.
Chinta Bhagat, managing partner of L Catterton Asia, said: “The healthcare industry, and medical devices in particular, are rapidly shifting from a scientific and engineering orientation towards greater consumer-centricity.”
