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Mehiläinen as a company

Content:

Our mission

Our mission is to improve the health and well-being of the aging population of Finland.

  • You and your family get comprehensive and individual care quickly and smoothly.
  • Together with us, employers can maintain their employees’ health, ability to work and well-being.
  • In cooperation with us, public-sector decision-maker can organise high quality public services in a customer-oriented and cost-efficient way.
  • We offer health care professionals meaningful work in an inspiring atmosphere in which they can develop their skills.

Services

Private healthcare services

  • Physician services
  • Diagnostics
  • Operations
  • Dental care
  • Working Life Services

Public healthcare services

  • Health centres with customers’ freedom of choice
  • Outsourced services
  • Public dental care
  • Emergency care services and staffing
  • Home care services

Public social care services

  • Residential care services for the elderly
  • Residential care services for the disabled
  • Mental health rehabilitation
  • Child welfare services
  • Non-institutional services within child welfare services

Customers

Mehiläinen provides its customers with comprehensive social care and healthcare services. We provide services for private, insurance, corporate and municipal customers.

  • Mehiläinen’s outpatient clinics and hospitals: over 960,000 customers in 2019
  • Mehiläinen Working Life Services: more than 17,000 employers as customers, occupational healthcare services cover more than 460,000 people
  • Mehiläinen’s primary healthcare services: population coverage 230,000.
  • Mehiläinen has around 200 residential care homes with 6,800 beds around Finland.
  • Over 85 % of municipalities or joint municipalities are customers of Mehiläinen.

Our network

We provide services for the whole country in over 500 units.

Our network

Read more:
Mehiläinens locations

Financial result

The growth of Mehiläinen’s revenue and profitability continued to be stable in 2019, the company’s 110th anniversary. Revenue reached EUR 1064.1 million during the year. Mehiläinen continued making strong investments in quality as well as digital service innovations and customer satisfaction rose to a new record level.

In 2019, the revenue of Mehiläinen Group surpassed the mark of one billion euros for the first time in its history with a result of EUR 1064.1 (915.9) million. The figure grew by 16.2 % from the previous year. Underlying EBITDA, excluding the effect of the IFRS16 standard, increased by 15.8 % from the previous year to EUR 125.2 million. Corresponding underlying EBITA increased by 17.3 % and totaled to EUR 99.5 million. A total of EUR 85.4 million were invested in projects that support growth and digitalisation during this financial period.

“Mehiläinen’s profitable growth continued stable in all its businesses. The positive development of our business was particularly attributable to the organic growth of Working Life Services, medical clinics and public healthcare services and strategic cooperation with our insurance company partners. We were also involved in several smaller business combinations. Our public tender offer to acquire the shares of Pihlajalinna was one of the milestones of this year,” says Janne-Olli Järvenpää, the CEO of Mehiläinen.

Mehiläinen’s outlook for 2020 are positive. Revenue is expected to continue growing as a result of already completed growth projects. Upon completion, Pihlajalinna share deal would have material impact on Mehiläinen’s revenue and result.

“Through sustainable growth, we can ensure our ability to continue investing in high quality, the best expertise in the industry and, in particular, the development of our digital services and reaching international growth,” says Järvenpää.

KEY INDICATORS

Due to a change in Mehiläinen’s ownership in 2018, the figures of the report for 2018 apply on the level of Mehiläinen Oy Group, whereas the figures for 2019 apply on the level of the new parent company Mehiläinen Konserni Oy Group.

EUR 1 000

2019

Mehiläinen Konserni Oy -Group

2019

Mehiläinen Konserni Oy -Group

Without the impact of IFRS 16

2018

Mehiläinen Oy -Group

(not IFRS 16)

Change-%

Revenue

1 064.1

1 064.1

915.9

16.2

Underlying EBITDA 1)

202.0

125.2

108.1

15.8

% of revenue

19.0

11.8

11.8

EBITDA

197.1

120.5

97.3

23.8

% of revenue

18.5

11.3

10.6

Underlying EBITA 2)

118.8

99.5

84.8

17.3

% of revenue

11.2

9.3

9.3

EBITA 3)

114.0

94.7

74.0

28.1

% of revenue

10.7

8.9

8.1

Profit for the year

0.6

3.6

27.3

-86.9

% of revenue

0.1

0.3

3.0

Net cash flow from operating activities

200.7

123.1

87.3

41.0

EUR 1 000

2019

2018

Tax footprint 4)

217.6

204.1

Corporate taxes 5)

6.4

18.4

Net cash flow from subsidiaries and business acquisititions

57.4

81.9

Investments in property, plant and equipment and intangible assets

28.0

34.6

Average number of personnel (full-time equivalents)

9 077

7 310

Net promoter score (NPS)

89

88

1) Underlying EBITDA is operating profit before depreciation, amortisation, impairment losses and items affecting comparability.
2) Underlying EBITA is operating profit before depreciation and amortisation arising from business combinations, impairment losses and items affecting comparability.
3) Operating profit before depreciation and amortisation arising from business combinations and impairment losses.
4) Tax footprint including employer’s contributions. The tax footprint of the private practitioners operating at Mehiläinen is added to the footprint of Mehiläinen. The estimated total tax footprint of private practitioners is EUR 66.7 million (59.0).
5) Corporate taxes for the financial year include all income taxes recognised on the profit for the financial year and income taxes recognised during the financial year for adjustments to income in previous periods (does not include deferred taxes). The reference year includes EUR 8.8 million of taxes between tax years 2006–2012 related to the payments of interest allocated to Ambea Finland AB’s branch in Finland. Corporate taxes paid cash flow based for 2019 totalled EUR 7.0 million, including all income taxes paid during the financial year for the current year, and taxes paid on the basis of adjustments to income in previous periods.

Annual Report

Read more about Mehiläinen’s year and financial result:

Annual report 2019

Annual report 2019 (for printing)

Previous Annual reports:

Annual report 2018

Annual report 2018 (for printing)

Annual Report 2017

Annual Report 2017 (for printing)

Previous Financial statements:

Ownership of Mehiläinen has been gathered at Mehiläinen Konserni Oy, founded in June 2018. Take a look at the financial statements of Mehiläinen Konserni Oy here.

Personnel

In order to grow and develop while maintaining a high standard of service, Mehiläinen needs competent committed professionals. The professionals employed by Mehiläinen in a variety of jobs have a broad educational background. The youngest employees are under 20 years old, while the most experienced private practitioners are in their 70s.

Diverse work community

Our work community is multifarious with respect to job descriptions and diversity of the personnel. Mehiläinen is a broad-minded employer and treats its staff equally – this is also what our employees say. We want to be a work community in which differences between people and the associated strengths are appreciated.

Continuous development of competence

It is important for us to continuously develop our personnel’s competence. Most of the training provided by Mehiläinen is further or continuing vocational education or other profession-related training, provided as face-to-face and distance education.

One of Finland’s largest employers

Mehiläinen is the workplace of over 21,800 employees and private practitioners. At the end of December 2019, Mehiläinen had over 18,000 hired employees. Converted into full-time employment, this makes over 10,000 person-years. In addition, Mehiläinen employs over 3,800 private practitioners.

The need for social care and healthcare professionals will increase significantly within the next few years. This means that recruitment will become more challenging, which can also be seen in Mehiläinen’s operating environment. As a large, rapidly growing operator, Mehiläinen is excellently positioned to offer good jobs for professionals and we want to ensure a good employee experience every day. We will continue to develop further training, coaching, internal career paths opportunities and different feedback channels.

Personnel

The history of Mehiläinen

The basis of the operations and development of Mehiläinen lies in its long history. Having more than a hundred years of experience has formed the solid foundation of our expertise.

Development in the 20th century

The history of Mehiläinen began in the 6th of November, 1909, when Reguel Löfqvist, Akseli Koskimies, Walter Sipilä and K.F. Hirvisalo founded the hospital Sairaala O.Y. Mehiläinen on Huvilakatu in Helsinki. The hospital was named after a mythical creature Mehiläinen, the bee, of the Finnish national epic Kalevala.

In the 1930s, Mehiläinen moved to new premises in Töölö, where it has remained to this day. The new and impressive light green building was the centre of attention. The location in the modern, quiet and leafy area of Töölö also received a welcoming response. After just over ten years, the hospital was used as a war hospital by the Finnish Red Cross, and it was damaged in the bombings of Helsinki.

The following decades saw changes which had an impact on the medical centre’s operations, such as the beginning of group appointments and the new Health Insurance Act, which allowed the reimbursement of treatment and examination costs.

Occupational health services began in 1974. Ten years later, the company expanded with the addition of the medical centres of Forum, Hakaniemi, and Vantaa Kielotie. In the 1990s, the occupational health services of Mehiläinen were hit hard by the recession.

Expansion in the 21st century

In the early 21st century, Mehiläinen began its expansion into a national operator. The merger with the Turku-based Tohtoritalo was the first step outside the Helsinki Metropolitan Area. In the following years, the service chain stretched across the country after several acquisitions.

The 100-year-old company quickly diversified its operations to cover oral health, outsourced public health care services, care services, child welfare services, and mental health rehabilitation services.

Merger between Mehiläinen and Mediverkko

Mediverkko was founded in 2002 by Toni Jäntti, Janne-Olli Järvenpää, Antti Marttila, and Carlo Meloni to find a solution to the doctor shortage in Finnish municipalities. In its first years, the company focused on providing on-call services and medical locums. After 2006, Mediverkko quickly began to grow into a national service provider in elderly care services, child welfare services, and dental care services.

Mehiläinen and Mediverkko merged in 2015, becoming the quality leader of the Finnish health and welfare sector.

Pioneer in the industry

Mehiläinen has become a leader in quality and a pioneer in both private and public health care services. Digital technology has also become a permanent part of the services of Mehiläinen and health care in general. As in the past, the most central objective of Mehiläinen is to provide the best possible care for everyone.