Reuters reported, citing a person familiar with the matter, that private equity firm TPG Capital is exploring a joint investment in Japan’s Olympus Corporation with a series of Japanese technology firms. TPG is interested in providing capital and expertise to help revive the maker of medical equipment and cameras, Reuters said.

Reuters noted that firms such as Sony, Canon and Panasonic are keen on Olympus’ diagnostic endoscope business as part of their strategies to expand into healthcare.

Olympus has been seeking a friendly investor to make a minority investment and help its business recover from a $1.7 billion accounting scandal that has crushed its stock price and left a big dent in its balance sheet.

To read the Reuters article click here.

Previously on monitordaily: Olympus Plans to Reinforce Oversight of its Management, published December 30, 2011