Panasonic plans to sell profitable healthcare business

Japanese electronics giant Panasonic is planning to sell its healthcare business for about 100 billion yen ($1.05 billion) to raise cash as the consumer electronics maker fights to end losses with flat-panel televisions. Panasonic’s healthcare business involves electronic medical chart systems and blood-sugar monitoring devices.

Panasonic is considering selling the profitable healthcare business to Japanese and foreign manufacturers as well as investment fund firms, Kyodo reported quoting industry sources. Panasonic wants to sell the entire business to one buyer, although it may consider selling it off in parts.

READ  Panasonic plans to shift battery production to China