J-Star secures 5x exit from healthcare firm HCM - update
Japanese mid-market buyout firm J-Star has exited Tokyo-based healthcare service provider HCM Corporation to Alshok Group at an enterprise value of JPY8.88 billion ($78.7 million), generating a 5x cash multiple and a 60% IRR.
J-Star - which held a 56.9% stake in HCM - acquired its interest in the company in May 2011 via a management buyout that was understood to be valued at about $30 million. The deal was J-Star's second healthcare-related...
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