Attendo acquires Mikeva and strengthens its offering in own operations
Attendo AB has reached an agreement to acquire Mi-Hoiva Oy (“Mikeva”), a leading provider of care in Finland. The acquisition strengthens Attendo’s operations in social psychiatry and care for people with disabilities, and geographically complements Attendo’s offering in care for older people in Finland. Mikeva has approximately 2,800 beds in operation and more than 100 beds under construction, which is in line with Attendo’s strategy to grow in own operations.
Mikeva was founded in 1987 and currently has around 2,300 employees at 122 units throughout Finland. The company is active in social psychiatry, care for people with disabilities and care for older people. In 2016 Mikeva had sales of EUR 101 million and EBITDA of EUR 5.3 million. In recent years, the company has successfully focused on growth through acquisitions and by developing its own operations. Mikeva today has approximately 2,800 beds in operation, of which approximately 300 are under start-up. In addition, a further more than 100 beds are under construction.
“Through the acquisition of Mikeva we strengthen our offering in social psychiatry and we achieve a broader presence in care for older people in northern and western Finland. Mikeva has for several years shown good growth and has a positioning that fits well with Attendo’s focus on own operations. Together we will be able to even better contribute to meeting the needs of care in Finland,” says Henrik Borelius, Attendo’s CEO.
“Mikeva is a quality company with well-run operations and professional employees. The company has an operational focus, geographical presence and customer experience that complement Attendo’s. Together, we will create even better care for more people throughout Finland, and I welcome all the customers and employees of Mikeva to the Attendo family,” says Pertti Karjalainen, Business Area Director for Attendo Finland Care.
“I have great respect for Attendo and its 30 years of experience in developing high quality care. Attendo is the best possible owner for Mikeva, and together create a long-term player that provides good personalised care that will benefit customers and payors throughout Finland,” says Petri Pitkäranta, CEO of Mikeva.
The agreement to acquire Mikeva was reached between Attendo AB and G Square, which has owned Mikeva since 2012. The enterprise value is EUR 150 million. The acquisition will be financed primarily through new credit facilities.
Completion of the acquisition depends on approval from the authorities and other customary terms.
Attendo AB (publ)
For further information, please contact:
Andreas Koch, Communications and IR Director Attendo
Phone: +46 70 509 77 61
E-mail: andreas.koch@attendo.com
Lauri Korkeaoja, Press and Communications Manager, Attendo Finland
Phone: +358 44 0788 282
E-mail: lauri.korkeaoja@attendo.fi
The information above is such that Attendo AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on 31 May 2017.
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Attendo – the leading care and healthcare company in the Nordics
Attendo is the leading private provider of publicly financed care and healthcare services in the Nordic region. The company was founded in 1985 and was first to provide outsourced care for older people in Sweden. In addition to care for older people, Attendo provides care for people with disabilities, individuals and families, and, in Finland, healthcare and dental care. Attendo has more than 20,000 employees and is locally anchored with over 500 operations in more than 200 municipalities in Sweden, Finland, Norway and Denmark. www.attendo.com