Panasonic Healthcare becomes the first Japanese company to join the program
NEW YORK & TOKYO--(BUSINESS WIRE)-- Leading global investment firm KKR today announced the addition of Panasonic Healthcare to its Green Portfolio Program (GPP), an operational improvement program that uses an environmental lens to assess critical business activities of KKR's participating private equity portfolio companies.
The inclusion of Panasonic Healthcare marks the program's expansion into Japan and brings the total number of companies in the Green Portfolio Program to 27 since the launch of the program in 2008. In the program, Panasonic Healthcare is focusing on managing energy consumption.
The GPP, which began as a partnership between KKR and Environmental Defense Fund (EDF), applies KKR's approach of assessing, measuring, and optimizing performance in order to help portfolio companies manage their environmental impacts while also improving their bottom line. At the core of this approach is a set of analytic tools to help company management teams assess and track improvements across several key performance areas, such as greenhouse gas emissions, water, waste, priority chemicals, and forest resources while adding to the company's bottom line.
"Since the launch of the Green Portfolio Program in 2008, the GPP has not only achieved terrific environmental impact for KKR portfolio companies, but it has also benefitted companies' bottom lines by reducing costs through greater efficiency and by creating stronger relationships with suppliers, customers, and communities. We believe this has given our companies a competitive edge," said Ken Mehlman, Member of KKR and Global Head of Public Affairs.
"Panasonic Healthcare's vision is to provide optimal and personalized healthcare support for each patient we work with. But by taking key steps to minimize our environmental impact, we can do even more to help society and not only touch the lives of patients and their families, but also the wider communities that they live in," said Kenji Yamane, President of Panasonic Healthcare. "KKR has an excellent track record of helping its portfolio companies become better businesses while simultaneously being more sustainable corporate citizens. Our joining the Green Portfolio Program is a prime example of this."
"We are thrilled to expand this program into Japan," said Hiro Hirano, Member of KKR and Head of KKR Japan. "Panasonic Healthcare is a partner that shares our vision for promoting a more sustainable society, and their joining the Green Portfolio Program is a testament to that."
Tokyo-headquartered Panasonic Healthcare is a comprehensive healthcare company that focuses on three core businesses: In Vitro Diagnostics, Medicom, and Biomedical. KKR made its investment in the company in March 2014. Panasonic Healthcare has joined the GPP and is reporting results in record time since the program's launch in 2008.
In the Green Portfolio Program, Panasonic Healthcare is focusing on managing energy consumption in its Japanese facilities through a series of initiatives including LED lighting updates and the installation of energy-efficiency equipment. In absolute terms, GHG emissions from facilities decreased approximately 4 percent compared to a 2012 baseline, while efficiency has improved approximately 5 percent during the same period. The improvements in efficiency have helped Panasonic Healthcare to avoid approximately JPY 30 million in costs, or approximately $296,000 USD, and estimated 840 metric tons of GHG emissions in 2013.
Nineteen participating KKR private equity portfolio companies worldwide released results in 2013. Through reporting companies' collective efforts, they have achieved an estimated $917 million in financial impact and avoided approximately 1.8 million metric tons of greenhouse gas emissions, 4.7 million tons of waste, and 19.5 million cubic meters of water use. New aggregate results are expected in early October and will be available at the Green Portfolio Program website.
For more on KKR's Green Portfolio Program and the participating private equity portfolio companies visit www.green.kkr.com.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.
About Panasonic Healthcare
Established in 1969, Panasonic Healthcare is involved in developing, manufacturing, selling and servicing medical equipment. It seeks to strengthen its core businesses, In Vitro Diagnostics including self-monitoring of blood glucose systems, its Medicom businesses involved in medical IT businesses and its life sciences based Biomedical business and to continue to pursue an important role in the provision of optimal healthcare for all. For further information on Panasonic Healthcare please visit http://panasonic.net/corporate/segments/phc/.
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