Bird & Bird’s London and Singapore Corporate teams have acted for AXIO Data Group on the sale of Medica Asia (Holdco) Limited to a Japanese purchase consortium comprising Mitsui and SMS.
The companies purchased the shares in Medica Asia – the holding company of the MIMS Group, which provides drug information to healthcare professionals in the Asia-Pacific region – for US$250m.
AXIO, backed by Electra Partners, operates a portfolio of market-leading information businesses, serving customers in a range of sectors including healthcare, aviation and intellectual property licensing. Bird & Bird acted for AXIO in 2014 on its sales of JOC and Breakbulk.
The sale is a testament to Bird & Bird’s cross-border capability, involving the UK, Japan, Singapore and India. In India the Bird & Bird team worked with DBS Law and with Anderson Mori in Japan.
Chris Bradley, CFO at AXIO, commented: “This is the third disposal we have worked on with the Bird & Bird team. Once again they did an excellent job for us. The team were very responsive and clear and dealt with an incredible amount of documentation and process with efficiency and patience. It is great to have Bird & Bird’s continued support internationally given that our businesses span the US, Europe and Asia.”
Bird & Bird partner Neil Blundell, who led the sale with assistance from associates Shing Lo and Alex Gest, with Marcus Chow supporting in Singapore, commented: “AXIO is a great client for us and it’s very good to be involved in a highly successful M&A programme for one of Electra Partners’ headline investments. Chris Bradley and his team are a joy to deal with – well organised and very straightforward.”
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