Market Overview

PHC Holdings Signs Agreement to Acquire Anatomical Pathology Business from Thermo Fisher Scientific

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PHC Holdings Corporation (headquarters: Tokyo, Japan, hereafter PHCHD)
today announced that it has signed a definitive agreement with Thermo
Fisher Scientific Inc. (NYSE:TMO) (hereafter Thermo Fisher), the world
leader in serving science, to acquire Thermo Fisher's Anatomical
Pathology business for approximately US$ 1.14 billion.

Thermo Fisher's Anatomical Pathology business is one of the leading
providers of microscope slides, instruments and consumables in the
industry and is part of Thermo Fisher's Specialty Diagnostics Segment,
operating in the US, Europe and China with approximately 1,200 employees.

PHCHD is a global healthcare company that offers value-added products
and services across diabetes care, diagnostics, life sciences and
healthcare IT. Aiming to achieve further business growth, PHCHD will
expand its business portfolio through the acquisition of the business
from Thermo Fisher.

Hidehito Kotani, Ph.D. and CEO of PHCHD commented, "We are pleased to
have signed the agreement with Thermo Fisher Scientific. Their
anatomical pathology business has shown steady growth with their strong
customer base in global hospital markets, especially in the United
States. This is a solid business with good growth potential and we
believe it will create value for our stakeholders as part of our growing
diagnostics and healthcare portfolio."

PHCHD currently expects to close the transaction in the second quarter
of 2019, subject to customary closing conditions and the receipt of
applicable regulatory approvals.

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 for all the people who wish for better health," the company
develops, manufactures, sells and services medical equipment and
solutions across diabetes care, diagnostics, life sciences and
healthcare IT. 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.
For
further information on PHC Holdings Corporation, please visit www.phchd.com.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. (NYSE:TMO) is the world leader in serving
science, with revenues of more than $20 billion and approximately 70,000
employees globally. Its mission is to enable its customers to make the
world healthier, cleaner and safer. Thermo Fisher Scientific helps its
customers accelerate life sciences research, solve complex analytical
challenges, improve patient diagnostics, deliver medicines to market and
increase laboratory productivity. Through its premier brands – Thermo
Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity
Lab Services – the company offers an unmatched combination of innovative
technologies, purchasing convenience and comprehensive support. For more
information, please visit www.thermofisher.com.

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