Simpson Thacher recently represented PHC Holdings Corporation in connection with its ¥82.5 billion (approximately US$725 million) global offering of shares, including an offering to institutional investors outside Japan pursuant to Rule 144A and Regulation S under the Securities Act. The international offering consisted of newly issued shares and existing shares sold by KKR PHC Investment L.P., Mitsui & Co., Ltd., Life Science Institute, Inc. and Panasonic Corporation.~~PHC Holdings Corporation is a diversified diagnostics and life sciences company serving global markets with operations in more than 125 countries (including its distributors’ networks).~~The international joint lead managers for the international offering were Goldman Sachs International, Merrill Lynch International, J.P. Morgan Securities plc, Morgan Stanley & Co. International plc, KKR Capital Markets LLC, SMBC Nikko Capital Markets Limited and Mizuho International plc.~~The Simpson Thacher team included Alan Cannon, Noritaka Kumamoto, David Snowden, Atsushi Usui and Daisuke Ueta (Corporate); and Andrew Purcell (Tax).