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Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) has entered into an agreement with DaVita Healthcare Partners Inc. ("DaVita"), a leading provider of kidney care services in the United States, and Khazanah Nasional Berhad ("Khazanah"), the strategic investment fund of the Government of Malaysia, to participate in a joint venture operating dialysis clinics in the Asia-Pacific region. Subject to certain closing conditions including the receipt of approvals and permits from relevant authorities, Mitsui will acquire a 20% equity stake in DaVita Care Pte. Ltd., a Singapore domiciled subsidiary of DaVita, by subscribing to an issuance of new shares.
Against the backdrop of increasing population and escalation of lifestyle diseases such as diabetes and hypertension in the Asia-Pacific region, the number of end stage renal disease patients requiring dialysis treatment has risen significantly. However, there is a big supply-demand gap due to a shortage of dialysis clinics. At the same time, economic growth in the region has made the healthcare insurance system more accessible and satisfactory than ever before, and in an environment marked by rising income levels, there is a need for dialysis treatment providers with consistently high standards of care.
DaVita is a global provider of healthcare services to patient populations throughout the United States and the world, with a total of 2,369 outpatient dialysis clinics. In a survey of dialysis clinics conducted by the Centers for Medicare & Medicaid Services (CMS), the biggest public insurance provider in the United States, DaVita recently distinguished itself as the leader in the CMS Five-Star Quality Rating System by operating twice as many four- and five-star centers as other major dialysis providers. Following similar clinical processes and procedures, DaVita is providing its highly acknowledged high quality care in the Asia-Pacific region.
Mitsui has designated medical and healthcare business as one of its Key Strategic Domains and expanded its network in the business field through various investments, such as the investment in 2011 in IHH Healthcare Berhad, the largest private healthcare group in Asia, and the 2015 investment in MIMS Group, which enables Mitsui to access over 2 million healthcare professionals who are prominent in the medical frontline in the Asia-Pacific healthcare market. Furthermore, in April of 2016, Mitsui established the Healthcare & Service Business Unit to accelerate the global expansion of healthcare-related business through various new opportunities that lie ahead.
Through its participation in the joint venture with DaVita and Khazanah, Mitsui will strive to help spread the quality healthcare fostered in the United States by DaVita to the Asia-Pacific region and contribute to the enhancement of the quality of healthcare services in the region. In collaboration with other partners such as IHH and MIMS, Mitsui aspires to build a comprehensive medical service platform, covering from prevention to prognosis, in the Asia-Pacific region.
|Company Name||DaVita Care Pte. Ltd.|
|Business Activities||Operation of dialysis centers|
|Company Name||DaVita Healthcare Partners Inc.|
|Head Office||Denver, Colorado, USA|
|Establishment||1979 (Listed in NYSE)|
|Representative||Kent J. Thiry|
|Revenue||US$13.8 billion (FY2015)|
|Business Activities||Operation of dialysis centers, physician groups and affiliated physician networks, and other ancillary services|
|Business Territories||USA, EMEA, South Americas, Middle East, Asia Pacific|
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.