Advisement by Mori Hamada and TMI on EQT's $320 million acquisition of CareNet
In a significant move for the digital healthcare industry, CareNet, a prominent Japanese pharmaceutical and medical information platform founded in 1996, has been privatized by the global investment firm EQT. The tender offer, valued at $320 million, marks a new chapter for CareNet as it embarks on a growth trajectory supported by technological advancements, enhanced go-to-market strategies, and upgraded data analytics capabilities.
CareNet's Special Committee, consisting of four members, played a pivotal role in the transaction. Yohsuke Higuchi, a partner at TMI Associates, served as one of the committee members, bringing his expertise to the table. Joining Higuchi was Norihito Nagai from Kohwa Sohgoh Law Offices, who served as an independent outside audit and supervisory board member. Both Higuchi and Nagai contributed significantly to the evaluation of the transaction.
Masaki Kakimoto, another partner at Mori Hamada & Matsumoto, was responsible for competition-related matters in the transaction. Kensuke Sakajiri, a senior associate at Mori Hamada & Matsumoto, and Yuki Tominaga, another senior associate at the same firm, also worked on the M&A aspect of the transaction. Kenichi Sekiguchi, a partner at Mori Hamada & Matsumoto, led the M&A aspect of the legal team.
The legal advisory for EQT was handled by Mori Hamada & Matsumoto, while TMI Associates advised CareNet throughout the transaction. Andrew Sweeting acted as an independent advisor and member of the special committee in the acquisition of CareNet by EQT.
CareNet's digital platform provides medical education content to physicians, making it a leading player in the Japanese digital health sector. Following the privatization, CareNet aims to strengthen its technology platform, enhance its go-to-market capabilities, and upgrade its data analytics capabilities to drive growth and innovation in the industry.
This transaction underscores the growing interest in digital health solutions and the potential for significant growth in the sector. As CareNet embarks on this new journey, it is poised to make a significant impact in the digital health landscape, leveraging its expertise and the support of its new partner, EQT.
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