Humana completes the acquisition of Coronaria Hoiva and strengthens its position as a leading care provider in Finland
Humana has completed the acquisition of Finnish Coronaria Hoiva. Through the acquisition Humana becomes one of the largest care providers in Finland.
After the Finnish Competition and Consumer Authority, KKV, approved the acquisition of Coronaria Hoiva Oy (see press releases as of April 8, 2019, and January 28, 2019), Humana AB has acquired all shares in Coronaria Hoiva Oy. Coronaria Hoiva was valued at EUR 71 million (enterprise value) and the transaction was financed through cash and new credit facilities.
Since before Humana’s Finnish operations includes the subsidiary Arjessa Oy. Through the acquisition of Coronaria Hoiva, Humana significantly strengthens its position in social psychiatry for adults, housing with special service and elderly care, and becomes one of the largest care providers in Finland with approx. SEK 1.2 billion in net sales and approx. 2,500 employees. The acquisition of Coronaria Hoiva provides Humana with an attractive platform for continued growth and creates good opportunities for quality development and synergies.
- We are very happy to welcome Coronaria Hoiva to Humana. Together we are now a complete care provider also in Finland. As a leading and socially responsible provider in the Nordic care market, high quality and being an attractive employer are vital. These are also our most important competitive tools to continue to grow and help more people to a good life, Rasmus Nerman, President and CEO of Humana, said.
Coronaria Hoiva will be consolidated in Humana as of April 2019 and is expected to have a positive contribution on revenues and earnings per share during 2019. For 2018 Coronaria Hoiva’s adjusted net sales amounted to EUR 54 million and adjusted EBITDA to EUR 4.3 million. The company had approx. 1,100 employees at year-end 2018. Humana's adjusted full year 2018 revenue would, if Coronaria Hoiva had been consolidated from January 1, 2018 to December 31, 2018, thereby have amounted to approx. SEK 7,284 million, of which SEK 6,725 million refers to Humana. Together with Coronaria Hoiva, Humana had approx. 15,800 employees at year-end 2018.
For more information, please contact:
Ulf Bonnevier, CFO, +46 70 164 73 17, ulf.bonnevier@humana.se
Anna Sönne, Head of Investor Relations, +46 70 601 48 53, anna.sonne@humana.se
Humana is a leading Nordic care company providing services within individual and family care, personal assistance, elderly care and special service housing in accordance with LSS. Humana has some 15,000 employees in Sweden, Norway, Finland and Denmark providing care for over 8,000 individuals and working to achieve the vision “Everyone is entitled to a good life”. In 2018, Humana’s operating revenue was SEK 6,725 M. Humana is listed on Nasdaq Stockholm since 2016 and company’s headquarters are located in Stockholm. Read more about Humana on: www.humana.se or corporate.humana.se/en
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