Sony Corp. will transfer its "harmo" electronic medication notebook service business to CMIC HOLDINGS Co. Ltd.'s CMIC Healthcare Co. Ltd., according to an SEC filing March 25.
The transaction will be completed through an absorption-type company split. Japan-based CMIC Healthcare will pay ¥1 million in cash for the transfer of assets, liabilities and other rights and obligations.
Sony launched the harmo business in 2016 as a platform for sharing medical and health information and it has been primarily used by pharmacies and other medical care facilities. The company said it is transferring the business to CMIC Healthcare "to create additional services which correspond to both the needs of the medical and healthcare industry and the needs of patients," among other things.
The consumer electronics company expects to close the deal by June 1.
Sony said it will also provide technology support for CMIC Holdings' various businesses, including the harmo service, through its startup acceleration program's business development framework.
As of March 25, US$1 was equivalent to ¥110.11.