{"id":660180,"date":"2013-05-24T07:29:59","date_gmt":"2013-05-24T11:29:59","guid":{"rendered":"https:\/\/www.pehub.com\/?p=231609"},"modified":"2013-05-24T07:29:59","modified_gmt":"2013-05-24T11:29:59","slug":"toshiba-kkr-to-bid-for-panasonic-healthcare-unit-sources","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/660180","title":{"rendered":"Toshiba, KKR to Bid for Panasonic Healthcare Unit: Sources"},"content":{"rendered":"

Toshiba Corp and U.S. private equity firm Kohlberg Kravis Roberts & Co<\/strong> (KKR) are among those expected to bid for Panasonic Corp’s<\/strong> healthcare business, sources told Reuters.<\/p>\n

(Reuters) – Toshiba Corp and U.S. private equity firm Kohlberg Kravis Roberts & Co (KKR) are among those expected to bid for Panasonic Corp’s healthcare business, financial sources with knowledge of the matter said.
\nPanasonic is looking to raise as much as $1 billion by selling shares in the healthcare unit, whose products include blood sugar monitoring equipment, hearing aids and electronic medical record-keeping systems.<\/p>\n

The company, which is being advised by Bank of America Merrill Lynch on the sale, has set a deadline of Monday for first-round bids, according to the sources who spoke on condition of anonymity because the bidding is not public.<\/p>\n

Panasonic declined to comment on the sale process.<\/p>\n

About 10 investment funds, including KKR, Bain Capital, Carlyle Group, TPG Capital Management, CVC Capital Partners and Unison Capital are expected to enter bids, the sources said.<\/p>\n

Japanese electronics conglomerate Toshiba and a handful of manufacturers are also planning to bid, they said.
\nRepresentatives of Toshiba and KKR declined to comment.<\/p>\n

Panasonic President Kazuhiro Tsuga said in March that he would seek a partner “with medical knowledge and skills and capital for future growth” to invest in the healthcare unit as part of a wider company revamp to bolster profitability.<\/p>\n

Tsuga did not say how much of the unit he planned to sell. The business generated a profit of 8.7 billion yen ($85.77 million) on 134.3 billion yen in sales in the previous business year ended in March.<\/p>\n

Investment funds are eyeing the growth potential of its blood sugar monitoring devices in markets such as China and India, while Toshiba sees the deal as a way to bolster its medical equipment operations, the sources said.<\/p>\n

The company is aiming to narrow the field to two or three bidders in June, conduct a second round of bidding in July and enter exclusive talks with one firm around August.<\/p>\n

The post Toshiba, KKR to Bid for Panasonic Healthcare Unit: Sources<\/a> appeared first on peHUB<\/a>.<\/p>\n

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Toshiba Corp and U.S. private equity firm Kohlberg Kravis Roberts & Co (KKR) are among those expected to bid for Panasonic Corp’s healthcare business, sources told Reuters. (Reuters) – Toshiba Corp and U.S. private equity firm Kohlberg Kravis Roberts & Co (KKR) are among those expected to bid for Panasonic Corp’s healthcare business, financial sources […]<\/p>\n","protected":false},"author":7428,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-660180","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/660180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7428"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=660180"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/660180\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=660180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=660180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=660180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}