Sumitomo Corporation, via its U.S. subsidiary Sumitomo Corporation of Americas (SCOA), has announced a strategic investment in Vast Medical Holdings, the parent company of Quest Health Solutions. This move marks Sumitomo’s debut in the U.S. healthcare sector, focusing on enhancing chronic-care patient management.
Chronic diseases such as diabetes significantly impact Americans, with the CDC reporting that 11.6% of the U.S. population, or 38.4 million people, have diabetes. Including those with prediabetes, this figure rises to nearly 40%. Quest Health Solutions provides comprehensive diabetes care services, directly supplying Continuous Glucose Monitors (CGM) and integrating CGM data with clinical support services like patient education and meal planning.
Sumitomo’s investment aims to leverage data and AI to improve health outcomes and reduce healthcare costs. By expanding its network of health insurers and medical institutions, Sumitomo intends to enhance the quality of life for patients with chronic diseases. Additionally, Sumitomo plans to replicate this business model in Japan and Southeast Asia, addressing global health issues.
Jeremy Yap, General Manager at SCOA, highlighted the alignment of Quest’s operations with Sumitomo’s strategy to improve health outcomes and expand access to healthcare. Quest Health Solutions CEO Adam Nadler emphasized the partnership’s role in supporting home care preferences among aging Americans and enhancing patient trust in their services.
This investment continues Sumitomo’s longstanding global healthcare ventures, including the establishment of drugstores and managed care businesses in Japan and Southeast Asia.
