Monday, 10 August 2020

PHC Group strengthens life sciences biz in Asia

13 July 2020 | News

Increases Stake in SciMed

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Japan headquartered PHC Holdings Corporation has announced the completion of its acquisition of an additional 55.01% of shares in Singapore based SciMed (Asia) Pte Ltd, a major distributor of PHC Group’s life sciences products across Southeast Asia and India.

This purchase agreement with SciMed increases PHCHD’s stake in the company from 14.99% to 70%. SciMed will now operate as a consolidated subsidiary of PHCHD, as part of the Life Sciences/Diagnostics Domain.

Located in Singapore, SciMed markets and distributes life sciences products and provides its services throughout Southeast Asia and India. With an extensive distribution network in the region, supported by strong expertise and service capabilities in the life sciences field, SciMed is a major player in the Southeast Asian market.

PHCHD has positioned SciMed as the main distributor for their life sciences business across Southeast Asia and India, and has expanded its business in the region through their close partnership over 30 years.

This agreement is part of PHC Group’s focus on company growth, by strengthening existing businesses and identifying ways to add complementary products and services to the group.

It follows the completed acquisitions of the anatomical pathology business (operating as Epredia) from Thermo Fisher Scientific, Inc. in June 2019, and LSI Medience Corporation from Life Science Institute, Inc. in August the same year, which have strengthened their diagnostics and healthcare services businesses respectively.

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