TOKYO--(BUSINESS WIRE)--PHC Holdings Corporation (headquarters: Tokyo, Japan, hereafter PHCHD) today announced the completion of its acquisition of Anatomical Pathology business of Thermo Fisher Scientific Inc. (NYSE: TMO, hereafter Thermo Fisher) for approximately US$1.14 billion.
The acquired Anatomical Pathology business will operate as a new stand-alone company named Epredia that will continue to serve as a leading global provider of comprehensive solutions in the anatomical pathology field, including microscope slides, instruments and consumables.
PHCHD is a global healthcare company that offers value-added products and services across diabetes care, diagnostics, life sciences and healthcare IT. Through the acquisition of the Epredia business from Thermo Fisher, PHCHD will strengthen its diagnostics business by expanding its portfolio into oncology to support further business growth.
Michael Kloss, President and CEO of PHCHD said, “We are pleased to have completed this acquisition today and are excited to have added a leading global provider of solutions in the anatomical pathology industry to our group. Epredia brings a strong heritage in providing high-quality products and solutions that enable excellence in precision cancer diagnostics. It is a highly successful business that is already showing considerable growth and we believe we can work together to make it even more successful as part of the PHCHD group.”
James Post, President of Epredia, commented, “We are excited to join the PHCHD group and continue to serve the anatomical pathology market as Epredia. Although we have a new name, our mission remains the same: to improve lives by enhancing cancer diagnostics for patients around the world. We are excited to now be Epredia, powered by the key brands our customers have come to appreciate for their excellence and precision, such as Erie, Menzel, Microm, Shandon, and Richard Allan.”
James added, “PHCHD is a pioneer in the diagnostic field that is known for its precision solutions and we believe this is a unique opportunity for us to take our business to the next level. We are confident that this deal will help us to even more effectively meet the needs of customers. With the support and expertise of the PHCHD group, we believe we can drive further innovations and create more opportunities to enable better cancer diagnostics for patients.”
Michael 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. Across the world there is an increase in the need for cancer diagnostics, due to the rising incidence of cancers and greater demand for diagnostic examination in the emerging markets. This is an exciting step forward for PHCHD group as we continue to build a leading global healthcare company that can contribute to the health of society and improve the lives of people.”
About PHC Holdings Corporation
Incorporated in 2014, PHC Holdings Corporation is a global healthcare company with its products and services used in more than 125 countries. Its subsidiaries include PHC Corporation and Ascensia Diabetes Care Holdings AG. Committed to its corporate mission, “We contribute to the wellbeing of society through our diligent efforts by creating new value for all the people who wish for better health,” the company develops, manufactures, sells and services medical equipment and solutions across diabetes care, diagnostics, life sciences and healthcare IT. PHC Holdings Corporation group’s consolidated net sales in FY2018 was 186.8 billion yen with global distribution of products and services for more than 125 countries.
For further information on PHC Holdings Corporation, please visit www.phchd.com.
Epredia is a global leader in the anatomical pathology field, providing comprehensive solutions for precision cancer diagnostics. Powered by key brands, including Erie, Menzel, Microm, Shandon, and Richard Allan, Epredia’s portfolio includes microscope slides, instruments and consumables. Established following the acquisition by PHC Holdings in 2019, Epredia has major sites in the United States, the United Kingdom, Germany, Switzerland and China with a total of around 1,200 employees. Epredia is committed to achieving its mission to improve lives by enhancing cancer diagnostics for patients around the world.
For further information on Epredia and its products, please visit www.epredia.com/.