TOKYO – 13 August 2025 – EQT today announced that BPEA EQT Mid-Market Growth Partnership (the “MMG Fund” or “EQT”) has launched a tender offer (the “Tender Offer”) to acquire CareNet, Inc. (“CareNet” or the “Company”; ticker symbol: TSE 2150), a leading digital healthcare platform provider in Japan, at an offer price of JPY 1,130 per share. Founded in 1996 and headquartered in Tokyo, CareNet operates a pharmaceutical and medical information platform that provides medical education content, news and personalized services to physicians. The platform also enables pharmaceutical companies to engage with healthcare professionals through targeted online marketing and educational initiatives.

Following the successful completion of the Tender Offer, EQT expects to acquire full ownership of CareNet. On 13 August 2025, the Company stated that both its Board and Special Committee had unanimously expressed support for the Tender Offer and recommended that shareholders tender their shares. In addition, as of 13 August 2025, EQT has entered into tender support agreements with key shareholders confirming their commitment to tender all of their shares. 

The current management team will remain in place to continue leading the Company and drive its strategic vision. EQT is committed to supporting and accelerating CareNet’s next phase of growth by working closely with the management team to strengthen its integrated and personalized solution offerings in growing specialty areas, enhance its go-to-market capabilities, upgrade its technology infrastructure and data analytics capabilities, expand its reach across the broader healthcare sector by maximizing group synergies, and contribute to sustainable development of the healthcare community.

EQT’s Tender Offer reflects its ongoing commitment to supporting the growth and success of companies in Japan. Leveraging its global network of industry advisors and deep expertise in healthcare and digitalization, EQT aims to drive innovation and long-term value creation for CareNet. 

EQT's MMG buyout strategy is a natural extension of EQT's established large-cap buyout platform in Asia Pacific, and leverages EQT's pan-Asian presence to implement key initiatives within its portfolio. EQT has been an active investor in the healthcare and technology sector in Asia Pacific through its MMG and large-cap strategies. EQT’s MMG portfolio includes, but is not limited to, HRBrain in Japan, Compass in Australia, and WSO2 and Indium in India.

Please note that the consummation of the Tender Offer is subject to customary conditions.

Contact:
EQT Press Office, press@eqtpartners.com

About EQT
EQT is a purpose-driven global investment organization with €266 billion in total assets under management (€141 billion in fee-generating assets under management) as of 30 June 2025, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership. 

More info: www.eqtgroup.com
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About CareNet
CareNet, founded in 1996 and headquartered in Tokyo, is a leading digital healthcare company specializing in information services for medical professionals. With a mission "to support medical professionals and shape the future of healthcare with knowledge, passion, and action," CareNet operates one of Japan’s largest medical platforms, CareNet.com, which delivers education, clinical content, and promotional solutions to over 480,000 registered medical professionals, including more than 240,000 physicians.

As of June 2025, CareNet employs over 400 people on a consolidated basis. CareNet aims to contribute to the resolution of healthcare challenges by supporting the professional development of medical practitioners and driving improvements in the quality of care through broad, integrated offerings combining digital media, data, and professional services.