TOKYO -- European fund CVC Capital Partners has agreed to acquire Sogo Medical Group, a major Japanese pharmacy operator, for an amount expected to be around 170 billion yen ($1.2 billion), Nikkei has learned.
CVC intends to expand Sogo Medical's scale of business through means including mergers and acquisitions to increase its corporate value. Pharmacy operators in Japan face headwinds as the government works to lower drug prices, inviting a further shakeout of the industry.
