KKR partnered with Triton to acquire Ambea, parent company of Mehiläinen

Ambea, the largest private provider of health care and nursing services in the Nordic countries, announced on 23 February that it would be acquired by the Triton private equity group by the end of March. The acquisition was finalised on 31 March 2010, but with the addition of Kohlberg Kravis Roberts & Co (KKR) as a partner for Triton. Mehiläinen Oy, Finland’s best-known and most respected private social and health care services provider, is a part of the Ambea Group. The Group also includes Carema Sjukvård and Carema Care which operate in Sweden and Norway.

Triton has extensive experience in the strategic development of companies through co-operation with company management. The Finnish investors in Triton’s funds include the Local Government Pensions Institution and Tapiola. Triton has offices in Stockholm, Frankfurt and London. Kohlberg Kravis Roberts & Co (KKR) is one of the world’s best-known private equity investors, with over 15 years’ experience of health care services. KKR’s holding in Ambea is still subject to regulatory approval. Its other current holdings include the Alliance Boots international chain of pharmacies, Biomet, a company focusing on medical technology (e.g. orthopaedic joint replacement devices), and HCA, one of the biggest hospital groups in the US.

“We are eagerly awaiting the co-operation with our new partners, Triton and KKR. Both of them share our vision of developing and providing high-quality social and health care services. Triton’s extensive experience in the Nordic countries and KKR’s solid expertise in the health care sector will create an excellent operational base. We will be able to continue developing Mehiläinen and the whole Ambea Group with even better resources than before”, says Matti Bergendahl, CEO of Mehiläinen and Deputy CEO of Ambea.

“The change in ownership will not affect the daily operations of Mehiläinen. Our services and activities with customers, employees and partners will continue as before. We will keep striving to fulfil our mission – Time to Care”, Bergendahl continues.

“KKR is pleased about the cooperation with Triton and Ambea, and our joint objective with Ambea and Mehiläinen is to develop and produce excellent social and health care sector services”, says Dominic Murphy, head of KKR’s health care industry team in Europe.

“Working together with our chosen partner, KKR, we can enhance Ambea’s development and create new growth opportunities in line with the targets set by Ambea’s management”, says Magnus Lindquist, a partner at Triton.

For additional information, please contact:

Matti Bergendahl, CEO of Mehiläinen Oy, Deputy CEO of Ambea AB,
tel. +358 40 833 54 61
Ralph Riber, CEO of Ambea AB, tel. +46 708 75 66 89
Magnus Lindquist, Partner, Triton
Kristi Huller, KKR, tel. +1 212 750 8300 or Martin Petersson, tel.+46 8 407 22 91

Published 1.4.2010