Industry Press Releases

PHC Holdings Completes Acquisition of the Pathology Anatomy Activity of Thermo Fisher Scientific

Monday, Jul 01, 2019

PHC Holdings Corporation today announced the completion of its acquisition of the Pathology Anatomy business of Thermo Fisher Scientific Inc. TMO, hereinafter referred to as Thermo Fisher) for approximately USD 1.14 billion.

The acquired pathology anatomy activity will become a new autonomous company, named Epredia, which will remain one of the world's leading providers of complete solutions in the field of pathological anatomy, including microscope slides, instruments and other consumable items.

PHCHD is a global healthcare company offering value-added products and services for the management of diabetes, diagnostics, life sciences and medical informatics. Through the acquisition of Epredia from Thermo Fisher, PHCHD will strengthen its diagnostic business by expanding its oncology portfolio to support future growth.

Michael Kloss, President and Chief Executive Officer of PHCHD, said: "We are pleased to have completed this acquisition today and are pleased to have added to our group a leading global provider of pathology solutions. anatomical. Epredia has a long history of providing high quality products and solutions that promote excellence in the accurate diagnosis of cancer. This high performance business is already experiencing considerable growth and we believe that by working together we will make it even more successful within the PHCHD group. "

James Post, president of Epredia, said: "We are delighted to join the PHCHD group and continue to serve the pathology market as Epredia. Although we have a new name, our mission remains the same: to improve lives by improving the diagnosis of cancer for patients around the world. We are delighted to be able, as Epredia, to support such prestigious brands as Erie, Menzel, Microm, Shandon and Richard Allan, whose clients value excellence and precision. "

James Post added, "PHCHD is a pioneer in the field of diagnostics, recognized for its precision solutions, and we believe that a unique opportunity presents itself to advance our business. We are confident that this agreement will help us respond even more effectively to the needs of our customers. With the support and expertise of the PHCHD Group, we believe we can bring innovations to life and create more opportunities to provide patients with better cancer diagnoses. "

Michael Kloss explained: "This acquisition is important for the PHCHD group as we see significant growth potential in this business and opportunities for synergies with our existing business segments. Around the world, the need for cancer diagnoses is increasing due to the increasing incidence of these cancers and the increased demand for diagnostic tests in emerging markets. For the PHCHD Group, this is an exciting breakthrough, as we continue to deploy a world-leading health care company that can contribute to the health of society and improve health. people's lives. "

About PHC Holdings Corporation

Incorporated in 2014, PHC Holdings Corporation is a global healthcare company whose products and services are used in more than 125 countries. Its subsidiaries are PHC Corporation and Ascensia Diabetes Care Holdings AG. In line with its corporate mission, "We contribute to the well-being of society through our diligent efforts in creating a new value for all those who wish to improve their health", the company develops, manufactures, sells and services medical solutions and equipment for diabetes care, diagnostics, life sciences and medical informatics. Consolidated net sales of PHC Holdings Corporation amounted to JPY 186.8 billion in 2018 with worldwide distribution of products and services in more than 125 countries.

To learn more about PHC Holdings Corporation, visit  www.phchd.com

About Epredia

A world leader in the field of anatomical pathology, Epredia offers comprehensive solutions for the accurate diagnosis of cancer. Powered by prestigious brands including Erie, Menzel, Microm, Shandon and Richard Allan, Epredia's portfolio includes microscope slides, instruments and consumables. Established following the acquisition of PHC Holdings in 2019, Epredia has major locations in the United States, the United Kingdom, Germany, Switzerland and China, with a total workforce of approximately 1,200 employees. Epredia is committed to fulfilling its mission of improving lives by improving the diagnosis of cancer for patients around the world.

To learn more about Epredia and its products, visit www.epredia.com/ .

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Masayo Okada Corporate
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PHC Holdings Corporation
+ 81-3-6778-5311

 

Source: businesswire.com

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