Gleiss Lutz - Acquisition of the Anatomical Pathology business of Thermo Fischer Scientific by KKR/PHC Holdings
Gleiss Lutz has provided comprehensive advice to PHC Holdings Corporation (PHCHD), a portfolio company of the private equity firm KKR, on all German law aspects of the acquisition of the Anatomical Pathology business of the US group Thermo Fisher Scientific Inc. The transaction was led by Simpson Thacher.
The healthcare company PHCHD, which has its headquarters in Tokyo, acquired the business, a leading provider of microscope slides, instruments and consumables with around 1,200 employees at locations in the USA, Europe and China, for approximately 1.14 billion US dollars. The transaction is subject to the customary regulatory approvals and is expected to close in the second quarter of 2019.
PHCHD develops, manufactures, sells and services medical devices across diabetes care, diagnostics, life sciences and healthcare IT. In the 2017 financial year the consolidated net sales of the PHCHD group amounted to 192.6 billion yen. The acquisition of the anatomical pathology business serves to expand its product portfolio.
With its turnover of more than 20 billion U.S. dollars and approximately 70,000 staff, Thermo Fisher is the largest laboratory equipment supplier worldwide.
The following team of Gleiss Lutz lawyers, lead by Dr. Jan Balssen (partner, corporate/M&A, Munich) and Dr. Christian Cascante (partner, corporate/M&A, Frankfurt) advised KKR/PHCHD in connection with the transaction: Dr. Michael Ilter, Dr. Konstantin von Dryander, Andrej Popp (all M&A/private equity, Frankfurt), Dr. Marco König (partner), Dr. Oliver Jürgen Junge (both healthcare, Stuttgart), Dr. Doris-Maria Schuster (partner), Dr. Sebastian Schulte (both employment), Frank Schlobach (partner, finance, all Frankfurt), Dr. Alexander Molle (partner), Dr. Hannah Bug (both IP/IT, Berlin), Anna Karpf (commercial, Stuttgart), Dr. Ingo Brinker (partner), Dr. Iris Benedikt-Buckenleib (counsel) (both competition/antitrust, Munich), Dr. Jacob von Andreae (partner), Aylin Hoffs (both public law, Düsseldorf), Dr. Stefan Mayer (partner), Dr. Ocka Stumm (both tax, Frankfurt), Dr. Philipp Naab (counsel, real estate, Frankfurt).
Gleiss Lutz regularly assists KKR and PHCHD. A Gleiss Lutz team of lawyers led by Dr. Jan Balssen had previously advised KKR in 2015 on the acquisition and integration of Bayer’s global Diabetes Care business by PHCHD.