Blackstone has acquired a 60% stake in CMIC Co, a Japanese contract research firm that helps drug companies run clinical trials, according to a company release.
CMIC Holdings, an entity led by its founder Kazuo Nakamura, will retain the remaining 40% stake in the company, which was founded over three decades ago.
The private equity-backed company now provides comprehensive end-to-end services across clinical trial phases and therapeutic areas, helping pharmaceutical and biotechnology clients develop medicines and bring them to the market.
“This is a continuation of our strong commitment to Japan—one of our fastest-growing markets globally—and investing in our high conviction theme, life-sciences-related services, where we’ve built a meaningful portfolio in Japan and around the world,” said Atsuhiko Sakamoto, Head of Private Equity, Blackstone Japan.
The Wall Street giant last year announced the privatisation of I’rom Group, a Japanese group that helps run medical research at hospitals and clinics. It was also reportedly selling Alinamin Pharmaceutical, a local maker of supplements and nonprescription drugs, to MBK Partners the same year.
Japan is becoming a key market for private equity to pursue healthcare deals, cashing in on its ageing population and drug innovations. Investments in Japan’s healthcare sector have grown at 20% annually since 2019, driven by improved corporate governance and changes to the M&A code, which have opened up more opportunities for carve-outs and privatisations, according to Bain.
