MBK Partners to sell elderly care provider Japan Well-being to Advent
FILE PHOTO: An elderly woman walks in Akita, Akita prefecture, northern Japan June 23, 2018. REUTERS/Kiyoshi Takenaka/File Photo
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TOKYO, June 25 : Asia-focused buyout firm MBK Partners said on Thursday it had agreed to sell elderly care service provider Japan Well-being to U.S. private equity firm Advent International for an undisclosed amount.
• A person with knowledge said the deal value would total about 200 billion yen ($1.24 billion) including debt.
• Japan Well-being owns Tsukui and Soyokaze, which together form one of Japan’s largest home-care networks.
• MBK Partners had acquired Tsukui in 2021, later establishing Japan Well-being as a holding company for Tsukui and Soyokaze.
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• Advent has a global track record of investments in pharmaceuticals, healthcare technology and nursing care services, MBK Partners said.
• Japan’s rapidly ageing population makes elder care a high-growth market, MBK Partners said.
($1 = 161.8100 yen)
Source: Reuters
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