The board of Mediverkko and its main shareholders have agreed a combination agreement with the owners of Mehiläinen. The two are significant companies in the Finnish healthcare and social services provider field. Existing Mediverkko management and original founders will become new owners at the combined entity together with the KKR and Triton managed funds and existing Mehiläinen management.
Agreement has no impact on existing customer or employment contracts at either firm. New CEO of the company will be Mr. Janne-Olli Järvenpää, Co-founder and CEO of Mediverkko.
The transaction is planned to be closed by the end of January after customary approvals from the regulatory authorities.
“Mediverkko has been an innovative growth firm in public-pay healthcare and social services delivery. The combination strengthens and accelerates the implementing of the strategy of Mehiläinen, because Mediverkko complements Mehiläinen’s services and network. Together we are able to provider our clients with broader services”, says Ove Uljas, the interim CEO of Mehiläinen.
“Mehiläinen has over 100 years of experience from high quality healthcare service. Combining our capabilities is an exciting new start for both firms and I am extremely excited about this opportunity. We aim take our place as a leading edge firm in terms of customer service, quality and availability of our healthcare and social services. The combination will offer exciting career opportunities for our professionals. We plan to invest actively into new services development as well expansion of our network of clinics and care homes”, comments Mr. Janne-Olli Järvenpää.
Key figures of the new company
- Combined turnover 2013 of circa 366 mEUR and EBIT of 38,4 mEUR
- The companies invest circa 17mEUR in Finland in 2013
- Over 100 company managed units (hospitals, clinics, institutions or assisted living homes) and presence in practically each of the 30 largest cities in Finland
- Combined staff of circa 9 000 professionals, one of the largest domestic employers in Finland
- Annually over 3,4 million patient visits at company managed clinics or through services contracts at public healthcare centers
- Over one million Finnish persons used the services of the companies last year
Key assets of the new company
- The services and the know-how of the companies are complimentary to each other
- Attractive employer for healthcare and care professionals for the entire career track
- Superior services portfolio for private customers, enterprises and public sector
- Fast access to services, satisfied customers, high quality care
- Local services, national resources and capabilities
- Market leader investing actively into growth and services development
- Strong partner for the government, municipalities and joint-municipal authorities
Mediverkko ja Mehiläinen provide a full range of healthcare services from primary care to secondary care through a network of hospitals, medical centers and dental clinics all across the country. As a partner to the public sector, the firms offer a whole range of social care services including assisted living services for the elderly and disabled, mental rehabilitation, home care and child welfare. Companies operate through a network of over 100 units as well as through outsourcing and staffing contracts at several municipal healthcare centers and hospitals. Total combined staff consists of circa 9 000 professionals.
Mikael Lilius, chairman of the board, Mehiläinen Oy (please contact executive assistant Reeta Nordström, Mehiläinen Oy, +35850 482 0778)
Janne-Olli Järvenpää, Co-founder and CEO, Mediverkko, +35840 761 1588
Ove Uljas, interim CEO, Mehiläinen Oy, +358400 605 118
Mehiläinen Group is the best-known and most highly valued private provider of health care and social services in Finland. Mehiläinen’s nation-wide service network offers versatile social and health services for private, corporate and municipal customers. Established in 1909, Mehiläinen employs approximately 6,200 professionals. In 2013, the turnover of the Mehiläinen Group was EUR 268.5 million. www.mehiläinen.fi