Attendo and MedOne create first pan-Nordic social care and health care company

The Swedish company Attendo, majority owned by private equity firm Industri Kapital, has signed an agreement with Sponsor Capital to acquire MedOne. The transaction will result in the formation of the first pan-Nordic social and health care company, with operations in every Nordic country.

MedOne is the leading provider of outsourced health care and social care services in Finland. Its core business is to provide outsourced health care services for the needs of the public sector. Its clients cover 250 cities, districts and hospital districts. In the current year, MedOne is projected to generate revenues of some EUR 110 million (approx SEK 1 billion). Post the transaction, MedOne will continue to operate as an independent company and its current management team will remain with the company as managers and owners.

- MedOne has a focus on providing high quality solutions to patients, clients and the public sector which fits well with Attendo. We will be able to leverage their healthcare expertise in Sweden, Norway and Denmark, says Henrik Borelius, CEO of Attendo.

- We are looking forward to working with Attendo, whose resources and experience in care for older or disabled people will clearly benefit MedOne as we take the business to the next stage of its development, says Pertti Karjalainen, CEO of MedOne.

The combined company will have revenues of approximately EUR 450 million (approx SEK 4.2 billion) and employ over 11,000 people, of whom 7,400 are full time employees.

- The entry into Finland is an important and natural step in Attendo’s internationalisation process, says Gustav Öhman, Partner at Industri Kapital. MedOne’s unparalleled expertise in outsourcing healthcare services provides a good basis for expanding into the health care sector in other Nordic countries as well. The experience from outsourcing has been excellent and I believe that the outsourced market will continue its strong growth, Mr. Öhman commented.


The transaction is subject to regulatory approvals.




Contacts:
Henrik Borelius, CEO, Attendo, +46 8 586 251 01
Gustav Öhman, Partner, Industri Kapital, +46 8 678 95 03
Pertti Karjalainen, CEO, MedOne, +358 50 511 0191


Attendo
Attendo is the leading provider of care to older or disabled people and social services to individuals and families in the Nordics. Attendo has revenues of EUR 340 million (approx SEK 3.2 billion) and 9,400 employees, which equals 6,900 full time employees. Attendo operates in Sweden, Norway and Denmark.

For more information about Attendo: www.attendogroup.com

Industri Kapital
Industri Kapital is a European private equity firm with Nordic roots, managing around EUR 4 billion in fund commitments. Since 1989, Industri Kapital has acquired 64 companies. The current portfolio includes 21 companies across Europe with a total turnover close to EUR 8 billion. Industri Kapital invests mainly in mid-sized companies with strong cash flow and profit improvement potential, operating in attractive industries with fundamental underlying growth.

Industri Kapital’s investments in Finland include Konecranes, Noviant, Consolis, Paroc, Enermet, Dynea, CPS Color, Eltel Networks, Tradeka and Moventas. In addition, Industri Kapital has a long track record within the health care industry in Europe. Investments within the health care sector are Partena (Svensk Hemservice), Welzorg, CEVA, Pasteur Cerba and Attendo.

For more information about Industri Kapital: www.industrikapital.com