Pihlajalinna has increased its ownership in municipal joint-stock companies and signed a contract on the acquisition of Mänttä-Vilppula’s social and healthcare buildings
Pihlajalinna Plc Stock exchange release 31 December 2019 at 16:35
Pihlajalinna has increased its ownership in municipal joint-stock companies and signed a contract on the acquisition of Mänttä-Vilppula’s social and healthcare buildings
Pihlajalinna has increased its ownership in Kuusiolinna Terveys Oy, which it owns together with the municipalities of Alavus, Ähtäri, Kuortane and Soini, as well as in Mäntänvuoren Terveys Oy, which it owns together with the city of Mänttä-Vilppula. In addition, Pihlajalinna has signed a contract with the city of Mänttä-Vilppula on acquiring three social and healthcare buildings.
After the share transaction of Kuusiolinna Terveys Oy, Pihlajalinna’s ownership is 89 per cent and the municipalities’ ownership is 11 per cent. Kuusiolinna Terveys Oy’s shareholder and service agreements remain as they were. The share transaction was made between Pihlajalinna and the municipalities of Alavus, Ähtäri and Soini. Pihlajalinna pays EUR 16.3 million to the municipalities for the shares.
Kuusiolinna Terveys Oy is a joint venture between Pihlajalinna, Alavus, Ähtäri, Kuortane and Soini. It produces the region’s social and healthcare services.
After the share transaction of Mäntänvuoren Terveys Oy, Pihlajalinna’s ownership is 91 per cent and the City of Mänttä-Vilppula’s ownership is 9 per cent. Mäntänvuoren Terveys Oy’s shareholder and service agreements remain as they were. Pihlajalinna pays EUR 2 million to the City of Mänttä-Vilppula for the shares.
Mäntänvuoren Terveys Oy is a joint venture between Pihlajalinna and Mänttä-Vilppula. It produces social and healthcare services for Mänttä-Vilppula and Juupajoki.
In addition, Pihlajalinna has signed a contract with the city of Mänttä-Vilppula on acquiring three social and healthcare buildings. Objects of the transaction are activity centre Satakieli, nursing home Punatulkku and the Sarapiha building, which includes, among others, a health centre and an inpatient ward. At the same time, Pihlajalinna leases the ground of the objects of transaction with a long-term contract.
The transaction will be implemented by 31 December 2020. The contract price is based on the balance sheet value of the social and healthcare buildings. The total value of the building project is estimated at EUR 4–7 million.
In addition to Mäntänvuoren Terveys and Kuusiolinna Terveys, Pihlajalinna has joint ventures Jämsän Terveys, Jokilaakson Terveys, Kolmostien Terveys and Laihian Hyvinvointi. Pihlajalinna owns 51 per cent of Jämsän Terveys Oy and the City of Jämsä owns 49 per cent. Pihlajalinna owns 90 per cent of Jokilaakson Terveys Oy and the Central Finland Health Care District owns 10 per cent. Pihlajalinna owns 96 per cent of Kolmostien Terveys Oy and the City of Parkano owns 4 per cent. Pihlajalinna owns 81 per cent of Laihian Hyvinvointi Oy and the City of Laihia owns 19 per cent.
Pihlajalinna Plc
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Joni Aaltonen, CEO, +358 40 524 7270
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Pihlajalinna in brief
Pihlajalinna is one of the leading private social and healthcare services providers in Finland. The company serves private individuals, businesses, insurance companies and public sector entities, such as municipalities and joint municipal authorities. Pihlajalinna provides general practitioner services, specialised care, emergency and on-call services, a wide range of surgical services, occupational healthcare, dental care and wellbeing services. In addition, the company offers innovative social and healthcare service provision models to public sector entities.