SCIMED BECOMES PHC HOLDINGS WHOLLY OWNED SUBSIDIARY VIA ACQUISITION

KUALA LUMPUR, June 15 (Bernama) -- PHC Holdings Corporation (PHCHD), a subsidiary of PHC Group, has acquired the remaining 30 per cent stake in its subsidiary SciMed (Asia) Pte Ltd (SciMed), making SciMed a wholly owned subsidiary of the company.

According to a statement, 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.

“In the near future, SciMed is well-positioned to become an operating location in Asia for other PHC Group businesses, which will expand sales activities in existing business and promote full-scale entry into areas of advanced treatments such as cell and gene therapies.

“PHC Group will continue to foster synergies between our global businesses, and contribute to empowering researchers to develop advanced therapies to help build a future of better healthcare,” said PHCHD Corporate Officer and Co-head of the Diagnostics & Life Sciences Domain, Nobuaki Nakamura.

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 per cent to 70 per cent, converting the company into a PHCHD consolidated subsidiary.

As a wholly owned subsidiary, SciMed will be able to pursue deeper collaborations with other PHC Group divisions and subsidiaries, and enhance its sales and marketing structure across Southeast Asia, India and Oceania.

This will promote new business opportunities that answer precisely to customer needs, and accelerate the creation of innovative solutions that support researchers and healthcare providers facing challenges in the development of advanced treatments.

-- BERNAMA