Asahi Kasei Announces Agreement To Acquire ZOLL Medical

Chemical manufacturer Asahi Kasei Corporation is set to acquire ZOLL Medical Corporation for approximately US$2.21 billion.

AsianScientist (Mar. 12, 2012) – Chemical manufacturer Asahi Kasei Corporation and ZOLL Medical Corporation announced jointly today that Asahi Kasei will acquire ZOLL, a manufacturer of resuscitation and critical care devices and related software solutions, for approximately $2.21 billion.

Upon completion of the merger, the U.S.-based ZOLL will become a wholly owned subsidiary within the Asahi Kasei Group, managed by the current ZOLL management team and with all current business units and operations remaining intact. ZOLL will also be delisted from the NASDAQ stock exchange at that time.

The acquisition extends the development of Asahi Kasei’s “Health Care for Tomorrow” project, under which the company seeks to advance the development of new businesses through organic growth, targeted acquisitions, and strategic alliances.

A key focus area of this effort is the resuscitation sector, an area where ZOLL is already a market leader in the U.S. and has a strong international market presence.

This transaction builds on the alliance between the two companies that was announced in July 2011, under which Asahi Kasei has exclusive rights to market and distribute ZOLL’s AED PLUS™ automated external defibrillator (AED) in Japan.

“We are very excited to be joining forces with ZOLL, with whom we have enjoyed a productive partnership over the past nine months. In the medical devices business, the U.S. market leads the world, not only in size and scope, but also in technological innovation, so establishing a strong infrastructure in the U.S. is an important step for Asahi Kasei,” said President & Representative Director of Asahi Kasei, Taketsugu Fujiwara.

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Source: Asahi Kasei.
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