Stockholm County Council selects Bure as buyer of S:t Görans Hospital

Stockholm County Council selects Bure as buyer of S:t Görans Hospital Stockholm County Council today decided to select Bure Health Care's offer regarding acquisition of S:t Görans Sjukhus AB. The parties have signed a general agreement to acquire the shares in the Company. Bure Health Care is Sweden's leading company for the production of publicly-financed health care. "The fact that Stockholm County Council is now proceeding with Bure shows that it has considerable confidence in our expertise and ability. Our offer is based on the fact that S:t Göran will be given an opportunity for long-term development and that the hospital will in the future be able to strengthen its position as the leading emergency hospital in Sweden," says Per Båtelson, President of Bure Health Care. The parties have signed a general agreement in which the guidelines for the agreement are stated. It is expected that the negotiations will be completed around mid-year, following which a final agreement will be drawn up. The general agreement contains two main parts: acquisition of the shares in S:t Görans Sjukhus AB, and the terms for production of a guaranteed care volume for seven years. In addition, the agreement contains significant investments in, among other things, care development and IT support. "Bure Health Care will become an important partner of Stockholm County Council. Our ambition is to make use of and continue the successful development work that already characterises S:t Göran and add to this our own knowledge and our experience. In collaboration with the County Council and care providers in the vicinity of S:t Göran we also want to find ways to improve quality for the patients," says Per Båtelson. S:t Görans Sjukhus AB, which provides care for approximately 300,000 people in Stockholm, has been operated as a wholly-owned limited company of Stockholm County Council since 1994. The hospital has sales of approximately SEK 750M and around 1,300 employees. Almost 80 per cent of the operations consists of emergency treatment. Bure Health Care forms part of Investment AB Bure and is the leading non- public care producer in Sweden with assignments on behalf of a large number of county councils and municipalities. Operations are carried out in the sectors: specialist health care, geriatric care, occupational health care, diagnostics and materials supply. Bure Health Care currently has a sales rate of approximately SEK 3 billion and some 3,400 staff, of whom around 400 are medical practitioners. The Company is established in Sweden, Norway, Denmark, Great Britain, Switzerland and Poland. Gothenburg, 7 May 1999 Investment AB Bure (publ) For further information, please contact: Per Båtelson, President of Bure Health Care tel +46 31-335 76 65 Saila Horttanainen, Head of Information, Bure Health Care, tel +46 70-622 76 06 Ulrika Stenson, Head of Investor Relations, Bure tel +46 31 335 76 51 http://www.bure.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/05/07/19990507BIT00180/bit0001.doc http://www.bit.se/bitonline/1999/05/07/19990507BIT00180/bit0002.pdf