Japan's J-Star buys two healthcare providers
Japanese mid-market buyout firm J-Star has acquired two new care providers - Nagoya-headquartered Nurse Call and Kanagawa-based Kairos & Company - within weeks of its 5x exit from similar business HCM Corporation.
Nurse Call, was founded in 2002 by Toyomi Yoshida and operates two nursing care service stations in Nagoya. It provides terminal care services for later-stage cancer patients and sufferers of intractable diseases such as ALS. Kairos, set up in 2013 by Tadashi Takahashi, runs a hospice business operating two nursing care service stations and one hospice facility in Kanagawa.
J-Star - which plans to merge the companies and expand their national footprint - is tapping into the growing demand for home hospice care in the country where 80% of terminal patients are said to die in hospital. Given Japan's rapidly ageing population, this demand is only likely to grow. The two acquisitions represent J-Star's third and fourth healthcare investments.
Last month, Japanese security firm Alshok Group agreed to buy HCM from J-Star. The GP acquired its interest in the company in May 2011 via a management buyout that was understood to be valued at about $30 million.
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