July 12, 2023
Japan’s Asahi Kasei is moving the global headquarters of its healthcare business to the United States. The staff and leadership will be located in the company’s existing offices in Chelmsford, MA, a suburb of Boston.
Asahi Kasei’s healthcare business has more than tripled since its acquisition of Zoll Medical just over 10 years ago, the company said in today’s announcement. Currently, healthcare accounts for 18% of Asahi Kasei’s revenue, 33% of operating income in fiscal year 2022, and more than 23% of employees. Seventy-eight percent of Asahi Kasei's healthcare sales are outside Japan, and further global growth is expected, centered on the United States. The company added that healthcare is expected to be a main driver of its overall growth.
Asahi Kasei has a diversified healthcare product lineup, ranging from innovative drugs for specialized therapeutic areas to solutions for serious cardiopulmonary conditions, and equipment and services for the manufacture of biotherapeutics.
“By establishing our healthcare headquarters in the United States — the largest healthcare market and source of most innovation — Asahi Kasei reiterates its commitment to further accelerate the growth of its healthcare business,” said President and CEO Koshiro Kudo. “Furthermore, we anticipate that a greater presence in the United States with the healthcare team will create synergies and provide benefits for our material and homes businesses,” said Kudo.
Allowing a major business segment to be managed outside of Japan is a big shift for the company. It shows that “Asahi Kasei is moving forward in embracing new methods of operation,” said Primary Executive Officer for Healthcare Richard Packer. “We will be better able to move quickly, keep ahead of industry trends, and maintain our competitive edge. We look forward to better connecting our people and technologies to the global healthcare market. Similar connections will be made to our material and homes operations in the United States,” said Packer.
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