TOKYO, June 15 (Bernama-BUSINESS WIRE) — PHC Holdings Corporation (headquarters: Minato-ku, Tokyo, Japan, President, Representative Director and CEO: Shoji Miyazaki, hereafter PHCHD) announces that it has acquired the remaining 30% stake in its subsidiary SciMed (Asia) Pte. Ltd. (headquarters: Singapore, hereafter SciMed), making SciMed a wholly owned subsidiary of PHCHD. PHCHD previously owned a 70% stake in SciMed. PHC Group, a global company which includes PHCHD and its subsidiaries, will use this acquisition to expand its life sciences business across the Asia-Pacific region.
SciMed offers life science products and services, including ultra-low temperature freezers and CO2 incubators, in Southeast Asia, India, and Oceania. Since 1992, PHC Group and its predecessors have partnered with SciMed to expand business in these regions through SciMed’s extensive distribution network, expertise in the life sciences field, and its service capabilities. In July 2020, PHCHD increased its stake in SciMed from 14.99% to 70%, converting the company into a PHCHD consolidated subsidiary*.