PHC Holdings Announces Strategic Cooperation Agreement with Mitsui & Co., Ltd. and China Resources Healthcare Group Limited
TOKYO, October 26, 2018 ― PHC Holdings Corporation (headquarters: Tokyo, Japan, hereafter PHCHD), announces signing a Strategic Cooperation Agreement with Mitsui & Co., Ltd. (headquarters: Tokyo, Japan, hereafter Mitsui) and China Resources Healthcare Group Limited (headquarters: Hong Kong, hereafter CRH), a wholly-owned subsidiary of China Resources (Holdings) Co., Ltd. CRH is one of the leading healthcare business groups in China, owning China Resources Medical Holdings Company which operates over 100 hospitals across China.
This May, the Japanese and Chinese governments signed a Memorandum on Business Cooperation in Third Countries between Japan and China, and established the Japan-China Forum on Third Country Business Cooperation, aiming to further promote exchanges between Japanese and Chinese companies as well as developing projects involving private-sector economic cooperation in third countries. The Agreement signed between PHCHD, Mitsui and CRH is intended for new healthcare business development utilizing each company’s business platforms and expertise and maximizing business synergies in third countries, which will contribute to the Japan-China commercial economic cooperation promoted by both governments.
PHCHD offers value-added products and services for its three core businesses — Medical Devices, Healthcare IT, and Life Sciences. Through signing the three-party Agreement, PHCHD will seek to contribute to healthcare quality improvement and provide better service to patients by strengthening partnerships with Chinese companies in the healthcare field and accelerating healthcare businesses in third countries.
About PHC Holdings Corporation
Incorporated in 2014, PHC Holdings Corporation is a global healthcare company. 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 propositions for all the people who wish for better health,” the company develops, manufactures, sells and services medical equipment and solutions through its three core businesses for medical devices, healthcare IT and life sciences. PHC Holdings Corporation group’s consolidated net sales in FY2017 was 192.6 billion yen with global distribution of products and services for more than 125 countries. PHC Holdings Corporation changed its name from Panasonic Healthcare Holdings Co., Ltd. in April, 2018.
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About China Resources (Holdings) Co., Ltd.
Established in 1938 in Hong Kong, China Resources Co., Ltd. is a state-owned, diversified holding company engaged in a broad range of businesses, including power, real estate, pharmaceuticals in China. Consolidated net sales in FY2017 reached RMB 551.3 billion.
About China Resources Healthcare Group Limited
Founded in Hong Kong in 2011, China Resources Healthcare Group Limited, a wholly-owned subsidiary of China Resources (Holdings) Co., Ltd., is a leading healthcare company engaged in medical health service businesses in China, actively undertaking investment in healthcare industries and hospital operations management.