KKR eyes Panasonic healthcare unit - report

According to Nikkei, Panasonic Healthcare, which markets items such as hearing aids and blood sugar level sensors, could be sold for as much as JPY100 billion ($1.1 billion). The health-care unit reported an operating loss of JPY8.8 billion for the fiscal year ended March 2012 with sales of JPY133.6 billion.

Panasonic is also said to be mulling an exit from its plasma TV business. At the same time, it has announced it will increase the outsourcing of liquid-crystal display production to companies including South Korea's LG Electronics.

KKR has not commented on the potential deal but it would not be the first time private equity has taken an interest in Panasonic's assets. In December, Advantage Partners acquired the digital camera business of Panasonic unit Sanyo Electric.

Panasonic aims to sell JPY110 billion of assets, including buildings and land, by the end of this month boost its cashflow to JPY200 billion for the business year. The company expects an annual net loss of close to $10 billion as it writes off billions in deferred tax assets and goodwill.

Earlier this month Panasonic agreed to sell a building in Tokyo to Sumitomo Mitsui Finance JPY50 million.

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• Topics
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• Advantage Partners
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• buyout