TOKYO: Olympus Corp said on Monday (Aug 29) this had agreed to sell its microscope device to private equity company Bain Capital intended for 427. 6 billion yen (US$3. 1 billion), in what will be the Japanese company’s biggest divestment yet.
The sale of the unit, which also makes industrial endoscopes and x-ray analysers, comes as Olympus speeds the overhaul from the business portfolio, aiming to focus solely on medical technology.
Bain won over global private equity firms such as Carlyle Group and KKR & Co, people with immediate knowledge have said.
In its change, Olympus has asked activist investor ValueAct Capital on to the board, bought a number of overseas medical apparatus firms and marketed its digital camera business that had been a longtime money-loser.
Its shares have almost tripled since it started to re-organise itself early in 2019.