Tokyo, Japan and New York, NY 9/27/13; Osaka, Japan 9/27/13—Panasonic has agreed to sell its Healthcare business to investment firm Kohlberg Kravis Roberts & Co. (KKR) for approximately $1.67 billion. Following the sale, Panasonic will purchase 20% of outstanding shares in the new company. Panasonic Healthcare consists of three businesses: In Vitro Diagnostics, Medicom and Biomedical. The Biomedical business provides laboratory equipment including carbon dioxide incubators and ultra–low temperature freezers. Panasonic Healthcare posted fiscal 2013 sales of ¥98,068 million ($1,181.0 million = ¥ 83.07 = $1). “We understand KKR has been actively investing in the expanding healthcare sector, and we highly respect KKR’s industry expertise and its capability to provide the necessary growth capital and operational know-how, in preparation for the future development of Panasonic Healthcare in the global healthcare industry,” commented Panasonic President Kazuhiro Tsuga. Panasonic expects to record a ¥75 billion ($90 million) profit on the sale. The transaction is expected to close in March 2014.