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Panasonic Forms Healthcare Company

4/03/2012 11:18:08 AM Eastern

Secaucus, N.J. - Panasonic Corporation of North America today
announced the consolidation of the Panasonic healthcare group and the Sanyo
biomedical solutions division into a separate company, Panasonic Healthcare
Company of North America. 

Based here, the company will also have operations in Wood Dale,
Ill., and Houston, and it will be led by president Yoshi Yuasa.

Yuasa was serving concurrently as Panasonic's corporate planning
and strategic initiatives department senior VP, head of the Panasonic
healthcare group and corporate planning VP for Panasonic Canada. 

Panasonic said the new company "is committed to providing
innovative technological solutions for healthcare and life sciences
needs." Focused business efforts will include the Panasonic digital
hearing instruments and CardioHealth Station businesses of the former Panasonic
healthcare group, as well as pharmacy automation technology and biomedical and
other life science support products of Sanyo biomedical solutions division.

The company said the new unit will support Panasonic
Corporation's goal to be the No. 1 green innovation company in the electronics
industry by 2018 by emphasizing energy savings and improved efficiency of
healthcare operations through the use of Panasonic life science and
healthcare-related products. 

"We have formed Panasonic Healthcare Company of North America
with the aim of anticipating society's changing demands in the healthcare
market," said Joe Taylor, chairman/CEO, Panasonic Corporation of North America.
"Panasonic will continue to service the needs of life science customers with
innovative products and solutions. As a leader in the technology field,
Panasonic has much to offer both the medical devices and life sciences research
communities, and we believe that we can make a significant contribution in
helping to meet their evolving needs." 

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