J-Star buys Japan aged care services provider
J-Star will take control of Japanese aged care provider Live Cross through a bolt-on acquisition by the firm’s existing portfolio company Kairos Tokyo.
Financial terms of the deal were not disclosed. The GP is investing via its second buyout fund, which closed at JPY20.4 billion ($200 million) in 2013 and targets deal sizes between JPY1-10 billion.
According to a statement, Kairos will expand the Live Cross business model to include a hospice care service. J-Star will coordinate this effort with an earlier acquisition, Nurse Call, as well as Live Cross' previous operator, Kyosaikai Medical Corporation. At the same time, Nurse Call will aim to establish a national footprint for its Tokyo area hospice service.
Established in 2013, Live Cross operates a medical facility of 50 private rooms with elderly care bathrooms and mist showers. It receives visiting medical, nursery and care services from adjacent Kyosaikai Sakurai Hospital.
J-Star acquired Kairos and Nurse Call in 2013 with an aim to combine the companies' capacities in treating patients with difficult diseases such as terminal stage cancer. It was active in the Japanese nursing space earlier this year with the acquisition of Platia, a company specializing in dementia care.
Other recent Japanese healthcare industry investments by the firm include an investment in medical insurer Nihon Hoken Service, which subsequently acquired one of its competitors, Sokisha Corporation.
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