Carlyle has launched a tender offer to acquire Hogy Medical, marking another private equity-led take-private in Japan. The US investment firm offered ¥6,700 per share, according to a statement.

The offer period begins on Thursday and runs until 5 February. Carlyle has reached tender offer agreements with several significant shareholders, including activist investor Dalton Investments.

Hogy Medical shares closed at ¥6,560 on Wednesday, giving the company a market value of about $951m. Earlier this month, Carlyle emerged ahead of other private equity bidders pursuing the business.

Hogy Medical manufactures medical products including masks, surgical gowns, and sterile packaging pouches for surgical instruments. Dalton, which holds a 15.2% stake, has previously called for a review of strategic options, including a potential privatisation.

The transaction comes amid a broader wave of private equity activity in Japan. Carlyle has previously invested in Japanese healthcare companies including Qualicaps and Solasto.

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