New York, NY. Nixon Peabody LLP is pleased to have represented Sumitomo Corporation (TYO: 8053), a publicly traded Japanese corporation, and its US subsidiary, Sumitomo Corporation of Americas (Sumitomo), in the company’s strategic move to enter the US healthcare market.
Sumitomo will bring its global product distribution expertise to partner with a US-based provider of continuous glucose monitors (CGM), remote patient monitoring (RPM) services, and other medical supplies to expand care for diabetic patients nationwide. Sumitomo’s investment in Vast Medical Holdings, owner of Quest Health Solutions, marks the Global 500 company’s entrance into the US healthcare market and represents a strategic move to focus on direct-to-consumer home medical supplies distribution. The partnership will provide growth capital for Quest as the company continues to scale its differentiated model across its core CGM business and emerging RPM platform while diversifying into other service areas.
“We congratulate the SCOA team on their partnership with Quest and their entrance into the US healthcare market,” said Harsh Parikh, a partner in Nixon Peabody’s Healthcare practice, who co-led the deal team with Corporate partner Daniel Belostock. “This transaction enables both companies to focus on their missions of improving health outcomes and providing greater access to healthcare resources nationally.”
“It was a pleasure to work with the SCOA team on this transaction,” said Belostock. “We’re proud to support their work in improving patient care.”
Parikh and Belostock led a cross-office, cross-practice group team of attorneys across the firm. The Nixon Peabody deal team included partners Valerie Breslin Montague, Shahzad Malik, Alexandra Busto, Mark Knights, Christian Hancey, Jill Gordon, and Jeffrey Gilbreth; counsel David Crosby, Patrick Callaghan, Lena Gionnette, and Courtney New; and associates Vincent Capati, Ethan Domsten, Vidaur Durazo, Marissa Espinoza Icochea, Kelly Glynn, Freddy Lopez, and Emily Morrison.
To learn more about the transaction, see Sumitomo Corporation’s press release.
