According to a joint statement, a wholly owned subsidiary of KKR & Co would be buying the healthcare business of Panasonic Corp in a deal worth JPY165 billion. The US private equity firm's subsidiary would be purchasing Panasonic Healthcare Co's shares and assets. KKR would then allocate 20% of the shares back to Panasonic.

Panasonic President Kazuhiro Tsuga said, "We believe that partnering with KKR will also allow us to learn from KKR's global operational and business management expertise as we pursue the next stage in growth." The Japanese electronics maker projected an additional JPY75 billion in profit return to the company's coffers. The company would also be studying how the asset sale would affect the company's yearly forecast.

Data compiled by Bloomberg showed that KKR's recent purchase in Panasonic would be the biggest purchase the private equity firm had made in Japan. On the other hand, the sale of Panasonic's healthcare business was a strategy to shift the company's focus in reversing losses from its electronic businesses in the next two years.