Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Panasonic Said to Get Health Care Bids From Toshiba, TPG

May 28 (Bloomberg) -- TPG Capital, Toshiba Corp. are among bidders for Panasonic Corp.’s health care unit, said people with knowledge of the matter.

A deal may be valued at more than 100 billion yen ($978 million), one of the people said, asking not to be identified as the information is private. The company drew offers from fewer than 10 buyout funds in the first round of an auction, which closed yesterday, the person said.

The maker of Viera televisions is considering a sale of its health care and logistics units as it focuses on turning around its consumer electronics business. Osaka-based Panasonic plans to spend 250 billion yen on restructuring during the next two years to end losses from sales of TVs, semiconductors, mobile phones, circuit boards and optical devices.

Panasonic spokeswoman Megumi Kitagawa declined to comment on the bidders. Spokesmen for Toshiba and TPG also declined to comment. Reuters on May 24 reported that Toshiba and TPG were among potential bidders for the unit, without naming its sources.

Proceeds from a sale of the unit, which sells pharmaceuticals, runs blood banks and provides hospice care, will help Panasonic meet its target to generate 200 billion yen in cash-flow. The next round of bids for the business are likely to be made in July, one person said.

To contact the reporters on this story: Grace Huang in Tokyo at; Shigeru Sato in Tokyo at; Takashi Amano in Tokyo at

To contact the editor responsible for this story: Michael Tighe at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.