Tosoh Corporation acquires Lilac Medicare, advised by 7i Capital Advisors.

Tosoh Corporation, Japan acquires India’s Leading In-Vitro Diagnostics Company, Lilac Medicare Pvt. Ltd.

Tosoh Corporation (“Tosoh”), a global Japanese chemical and specialty products and materials major, has acquired 100% shareholding in leading Indian in-vitro diagnostics company Lilac Medicare Pvt. Ltd. (“Lilac”). With this acquisition, Lilac becomes an integral part of the Tosoh Group. Tosoh has a dedicated Biosciences Division which is a pioneer in Research and Development of sophisticated bioscience systems that are used for the diagnosis and monitoring of human health and especially life-threatening diseases.

7i Capital Advisors acted as the exclusive strategic and financial advisor to Lilac in this transaction.

“This acquisition is part of Tosoh’s strategy to expand and strengthen its bioscience operations. Since being established in 1997, Lilac’s products have become well known throughout India. By utilizing the network Lilac has built, Tosoh will make further efforts to increase its share in the growing Indian market by using its own immunological and diabetes diagnostic analyzers as stepping stones towards launching its full range of bioscience products.”, said Mr. Masayuki Yamada, Director and Board Member, Tosoh Corporation.

“Lilac has been built on the core strengths of knowledge, innovation and support. By becoming part of Tosoh group, Lilac can meet its short term and long-term growth objectives through strong financial and technology backing. Tosoh, with its interest and belief in the Indian market, is the right partner for Lilac to develop on its existing customer and product base and assist Lilac in its future growth prospects.”, said Mr. Supratik Chakraborty, Managing Director, Lilac Medicare Pvt. Ltd.

“With this acquisition, Tosoh gets a foothold in the complex Indian diagnostics market. Lilac, with its strong customer base, pan-India distribution network, well-qualified professional team and knowledge driven culture, provides the right platform to Tosoh to establish and expand its operations in India.”, said Mr. Abhijeet Biswas, Managing Director and Partner, 7i Capital Advisors.

About Tosoh Corporation

Tosoh Corporation is the parent of the Tosoh Group, which comprises 130 companies worldwide and a multi-ethnic workforce of over 11,000 people and generated net sales of ¥772.3 billion (US$7.5 billion at the year-end rate of ¥100.17 to the US dollar) in fiscal 2014, ended March 31, 2014.

Tosoh is also one of the largest chlor-alkali manufacturers in Asia. The company supplies the plastic resins and an array of the basic chemicals that support modern life. Tosoh’s petrochemical operations supply ethylene, polyethylene, and functional polymers, while its advanced materials business serves the global semiconductor, display, and solar industries. In addition, Tosoh demonstrates its commitment to a sustainable future in part by manufacturing a variety of eco- products.

About LILAC Medicare Pvt Ltd

Lilac is a leading Indian player in the business of manufacture & sales of clinical diagnostic equipment and reagents. Established in 1997, Lilac has established itself in the Indian market as a provider of innovative and technology driven in-vitro diagnostics products. Based on its 135 member strong professional and well-qualified employee team, Lilac has established pan-India sales & support network and diverse customer base which includes leading Indian diagnostic labs as well as medium-sized labs in almost every well-known city of India.