Clifford Chance and White & Case Acted on Acquisition of Sogo Medical Group by CVC Funds
Global law firms Clifford Chance and White & Case advised private equity giant CVC Capital Partners on its acquisition
Clifford Chance and White & Case Acted on Acquisition of Sogo Medical Group by CVC Funds
Global law firms Clifford Chance and White & Case advised private equity giant CVC Capital Partners on its acquisition of Japanese pharmacy operator Sogo Medical Group for $1.2 billion, according to the Japanese English weekly Nikkei Asia.
Clifford Chance, led by Tokyo partner Michihiro Nishi, handled the M&A and antitrust aspects of the transaction, while White & Case's team, led by partners Clara Shirota and Naoya Shiota, provided additional legal counsel.
This deal secures full ownership of Sogo Medical for CVC Funds, acquiring the company from Polaris Capital Group and other shareholders. As Nishi stated, "We are honoured to advise CVC on this landmark transaction, one of the largest private equity-backed M&A deals in Japan's healthcare sector last year." He further highlighted the growing attractiveness of Japan's healthcare sector for investors due to the ageing population, weaker yen, and improved corporate governance environment.
CVC Funds completed the acquisition, taking full ownership of Sogo Medical Group from Polaris Capital Group and other stakeholders.
Sogo Medical Group operates around 740 pharmacies across Japan, making it the fifth-largest pure pharmacy chain in the country. Their services extend beyond simply dispensing medications, including support for medical practice management.
CVC Capital Partners, headquartered in Luxembourg, manages private equity, secondaries, and credit investments with 29 offices worldwide.
This acquisition demonstrates their continued interest in strategic investments within the healthcare sector.