TOKYO, July 7 (Bernama-BUSINESS WIRE) — PHC Holdings Corporation (headquarters: Tokyo, hereafter PHCHD) has today announced the completion of its acquisition of an additional 55.01% of shares in SciMed (Asia) Pte Ltd (headquarters: Singapore, hereafter SciMed), 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.