SK-03, a company owned by a fund advised by Nippon Investment Company, said on 5 August it would make a tender offer for CE Holdings at ¥1,650 a share to take the medical IT group private.
Why Nippon Investment Company (NIC Fund, via SK-03) is buying CE Holdings Co., Ltd.
Nippon Investment Company focuses on healthcare, IT and business services and consumer companies, and in healthcare has backed 11 businesses including roll-ups of medical providers. Japanese press reported that the buyer plans to expand CE Holdings into healthcare technology and develop management talent.
Deal terms and financing
The ¥1,650 price is a 4.07% discount to the last close before the announcement. The tender offer had no upper limit and a minimum of 29.79%. The chairman's 8.7% holding will be bought outside the offer at settlement, after which CE Holdings plans a share consolidation and a self-tender around mid-January 2027, bringing the total to about ¥26.2bn.
Regulatory approvals and timing
The tender offer ran from 6 August to 17 September 2026 and succeeded. CE Holdings will be delisted from the Tokyo Stock Exchange Standard Market and the Sapporo Securities Exchange once the remaining steps are complete.
Market context
CE Holdings develops and sells medical information systems centred on its MI・RA・Is electronic medical records software.
