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The Finnish Competition and Consumer Authority has given the final approval for the transaction between Terveystalo and Attendo which is intended to be completed on 28 December 2018
Terveystalo Plc Stock exchange release 14 December 2018 at 13:00 EET
Terveystalo signed an agreement on 17 May 2018 to acquire the Finnish healthcare operations of Attendo AB. The Finnish Competition and Consumer Authority (FCCA) has today 14 December 2018 given the final approval decision for the transaction. The Transaction is intended to be completed on 28 December 2018 provided that all the conditions required for the completion are fulfilled at said time. Terveystalo will disclose the completion of the Transaction when finalised.
"The FCA's decision is, from Terveystalo's point of view, an important step towards new service structures in healthcare, supporting multifunctional service production and the patient's freedom of choice. The basis for the decision was to secure free competition, customer-oriented services and well-functioning healthcare structures in Finland. The costs of healthcare account for the bulk of the costs of municipalities and sustainability gap of the State and these challenges must be resolved by either pushing forward the Health and social services reform or through deeper co-operation between private and public sector. Decisions like this are needed to pave the way for new ways of working that respond to the needs of the economy and increased need for care. Developing our healthcare system towards a more customer-oriented model benefits all Finns by ensuring freedom of choice and high quality, cost efficient care", says Terveystalo's CEO Yrjö Närhinen.
"For Terveystalo, the transaction is both strategically and financially significant as it expands our expertise, network and service offering and thus strengthens our resources and our ability to provide our customers timely and high quality services. Our customers will benefit from a stronger nationwide operator capable of delivering cost-effective and diverse services and highly functional care chains to different customer groups and different life situations", Närhinen continues.
Kati Kaksonen, Director, Investor Relations and Financial Communications, Terveystalo
Tel. +358 10 345 2034
Nasdaq Helsinki Ltd
Terveystalo in brief
Terveystalo is a listed company on the Helsinki Stock Exchange. Terveystalo is the largest healthcare service company in Finland with net sales and network. The company offers versatile primary and secondary health care services for corporate and private customers and the public sector. The nationwide network covers 180 locations across Finland, complemented by 24/7 digital services.
In 2017, Terveystalo had approximately 1.2 million individual customers and approximately 3.3 million doctor visits. Nearly 9,000 healthcare professionals work in Terveystalo, about half of whom are private practitioners. Terveystalo's services carry the Key Flag symbol and the company is a member of the Association for Finnish Work. www.terveystalo.com