Attendo divests its operations in Norway
Attendo has signed an agreement to divest the Norwegian operations to the non-profit company Lovisenberg Omsorg. Attendo's Norwegian operations consist of five nursing homes for older people, of which four are outsourcing contracts that will expire in the next two years. Attendo sees limited opportunities for private companies to develop long-term sustainable operations in care for older people in Norway.
“Attendo has been at the forefront for a long time to develop working methods, quality systems and activities that improve the quality of life for the residents in our elderly homes in Norway. Despite highly appreciated operations, there is little opportunity for Attendo and other private companies to develop new establishments and our current agreements will expire in the coming years. I am convinced that Lovisenberg will take good care of our residents and employees and continue the work to develop compassionate care”, says Ammy Wehlin, Business Area Manager for Attendo Scandinavia.
Attendo currently operates five nursing homes in Norway, one under own operations and four outsourcing contracts whose contracts expire beginning in July 2020 (in Stavanger) and until 2022. The turnover of the business transferred amounted to approximately SEK 300 million in 2019 and contributed marginally to Attendos results.
The completion of the transaction is pending approval from relevant authorities in Norway.
Attendo AB (publ)
For further information, please contact:
Andreas Koch, Communications and IR-Director Attendo
Phone: +46 705 09 77 61
E-mail: andreas.koch@attendo.com
The transaction is not of the kind subject to disclosure obligation by Attendo pursuant to the EU Market Abuse Regulation.
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Attendo - the leading care company in the Nordics
Attendo is the leading private provider of publicly financed care 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 and social care for individuals and families. Attendo has approximately 25,000 employees and is locally anchored with more than 700 operations in around 300 municipalities in Sweden, Finland, Norway and Denmark. www.attendo.com