Carnegie acting as a sole financial adviser to Terveystalo in the merger with Diacor Terveyspalvelut in Finland.
Suomen Terveystalo Oy (“Terveystalo”) and Diacor Terveyspalvelut Oy (“Diacor”) have agreed on a merger between Diacor and Terveystalo. As a result of the merger, the Helsinki Deaconess Institute Foundation will become a major shareholder of Terveystalo, the largest healthcare provider in Finland. The merger will reinforce Terveystalo's national growth strategy and increase its Finnish ownership.
Owned by the Helsinki Deaconess Institute Foundation, Diacor operates 13 clinics and a hospital in the Helsinki metropolitan area and one clinic in Turku. The facilities are staffed by approximately 700 employees and 800 independent practitioners. In 2015, the company's total sales amounted to approximately EUR 129 million.
The companies will merge through an exchange of shares. The Helsinki Deaconess Institute Foundation will become a major Terveystalo shareholder. As part of the transaction, LähiTapiola Keskinäinen Vakuutusyhtiö and LähiTapiola Keskinäinen Henkivakuutusyhtiö will sell all of their Diacor Terveyspalvelu Oy shares to Terveystalo.
The acquisition is subject to approval from the Finnish Competition and Consumer Authority.
Carnegie acted as a sole financial adviser to Terveystalo in connection with the transaction.