Humana AB: 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 Humanas 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 Hoivas 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. Humanas
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, email@example.com
Anna Sönne, Head of Investor Relations, +46 70 601 48 53,
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, Humanas operating
revenue was SEK 6,725 M. Humana is listed on Nasdaq Stockholm since
2016 and companys headquarters are located in Stockholm. Read more
about Humana on: www.humana.se or corporate.humana.se/en