Medivire Työterveyspalvelut to merge with Suomen Terveystalo

The new enterprise to be the largest provider of private healthcare services in Finland

MB Funds and other owners are selling Medivire Työterveyspalvelut Oy, part of Medivire Group, to Suomen Terveystalo Oyj, the most widespread provider of private doctors’ surgeries in Finland. MB Funds acquired Medivire Työterveyspalvelut in 2000 and has over its 7-year ownership stint helped to turn the company into an incontestable market leader in its field.

MB Funds acquired Medivire Työterveyspalvelut Oy in 2000 with the other owners at the time consisting of the Finnish State, Ilmarinen Mutual Pension Insurance Company and the company’s management. Four years later, the State sold its holding to MB Funds, making MB Funds Medivire’s biggest owner with 82 percent of the shares. At the same time, the Group acquired Medivire Hoiva Oy.

The newly signed deal concerns Medivire Työterveyspalvelut Oy, which is the biggest nationwide provider of occupational healthcare services in Finland. It has 60 healthcare centres in 40 different locations around Finland.

Medivire Työterveyspalvelut has grown steadily under MB Funds’ management. In seven years the company’s turnover has increased from 32 million euros to the current 82 million euros.

“Under our management Medivire Työterveyspalvelut has grown from the State’s internal occupational healthcare unit into an incontestable market leader in its field and its staff has more than doubled. In 2000 the staff numbered 410 whereas today it is over 900”, says Hannu Puhakka, Partner at MB Funds.

“Medivire Työterveyspalvelut has now reached a stage where it is ready for a reshuffle. Merging the company with Suomen Terveystalo creates a new provider of private healthcare services that will be the biggest in the whole of the Finnish healthcare sector as well as enabling future growth and development”, Puhakka explains.

As a result of the deal, Medivire Group is split in two, as Medivire Hoiva Oy will remain with the current owners. Similarly to its sister company, Medivire Hoiva Oy has also established itself as a market leader in its own field and is currently experiencing a period of strong growth and development.

The agreement has been signed and the tax-free sale price of the entire share capital confirmed as 130 million euros. The merger will take place at the end of August. Kaupthing Bank acted as the sellers’ financial advisor in the negotiations and Dittmar&Indrenius provided legal advice.

Lisätietoja:

Hannu Puhakka
Partner, MB Funds
+358 9 1310 1352 / +358 50 511 3917