Healthcare firm Terveystalo to buy Attendo's Finnish business for $275 mln
17/05/2018 07:52
HELSINKI, May 17 (Reuters) - Finnish healthcare company
Terveystalo TTALO.HE has agreed to buy Swedish rival Attendo's
ATTE.ST Finnish operations for 233 million euros ($275
million), it said on Thursday.
Having indicated last week that it was considering a
potential deal, Terveystalo said the acquisition includes
Attendo's Finnish primary care, specialist care, staffing and
dental operations.
The business achieved revenue of 235 million euros last
year, compared with Terveystalo's sales of 690 million euros.
"The highly complementary transaction will improve
Terveystalo's competitiveness and growth opportunities,
particularly within services offered to the public sector,"
Terveystalo said in a statement, having last week said that it
was considering a .
Terveystalo has made its move ahead of a potential
legislative shake-up in the Finnish healthcare sector, with the
government's healthcare reform bill proceeding to a vote next
month. The bill is aimed at boosting competition between
healthcare providers by opening up more opportunities to the
private sector.
The Attendo deal, subject to approval by Finnish antitrust
authorities, is expected to be completed late this year.
($1 = 0.8459 euros)
(Reporting by Jussi Rosendahl
Editing by David Goodman)
((jussi.rosendahl@thomsonreuters.com; +358 9 6805 0248; Reuters
Messaging: jussi.rosendahl.thomsonreuters.com@reuters.net))