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Equity Participation in Wellesta Holdings Pte. Ltd.
Supporting Overseas Business Expansion of Japanese Company in Healthcare Sector

  • Region: Asia
  • Manufacturing and Services
  • Equity Investment
April 7, 2023
  1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed a shareholders' agreement*1 for a joint investment with Mitsui & Co., Ltd. (Mitsui) for acquiring shares and convertible bonds of Wellesta Holdings Pte. Ltd. (Wellesta), headquartered in Singapore, amounting to up to approximately SGD20 million (JBIC portion) through a special purpose company (SPC) established by Mitsui.
      
  2. Wellesta was established in 2019 for the sales and marketing of pharmaceuticals and medical devices with a direct market presence mainly in Asia.
      
  3. Mitsui has focused on the healthcare business in Asia. Mitsui has been the majority shareholder in IHH Healthcare Berhad (IHH), which is Asia's largest private hospital group and is positioned as Mitsui's core asset in the healthcare sector. Against this backdrop, Mitsui aims to secure pharmaceutical market access through the investment in Wellesta, expanding Mitsui's healthcare business value chain.
      
  4. One of the social issues in Asia is the "drug lag" or "device lag," the delay in making a drug or a medical device available in a particular market. Wellesta recognizes the provision of superior quality products and services in each country as one of its corporate philosophies. In this respect, Wellesta's business of facilitating the sales and marketing of pharmaceuticals and medical devices will help to resolve the above-mentioned social problem.
      
  5. JBIC's equity participation in Wellesta will support Mitsui in expanding its business overseas and resolving the social issue, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
      
  6. As Japan's policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in expanding their businesses overseas and resolving social issues through their businesses by drawing on its various financial facilities and schemes for structuring projects, including its equity participation function, and by performing its risk-assuming function.
      
Note
  1. *1 
    The shareholders' agreement was signed on March 27, 2023.

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