The company aims to expand into markets outside Finland.
Terveystalo is acquiring 72 percent of the shares in Swedish Feelgood. The total value of the tender offer is approximately SEK 606 million, or approximately EUR 60.16 million.
Feelgood is a healthcare company that employs around 700 people in 120 locations across Sweden. The company is listed on the Nasdaq Stockholm Small Cap list and in 2020 had a turnover of SEK 724.1 million, or approximately EUR 71.89 million.
According to Terveystalo, the merger with Feelgood will open the door for the company to the growing Swedish healthcare market. In addition, the acquisition is a significant step for the company in terms of its international expansion and growth. Terveystalo’s goal is to grow in occupational health in the Swedish market both organically and through additional acquisitions.
“With the merger, the number of employees covered by our occupational health services will more than double to just over 1.5 million. In the future, we will be able to offer this customer base new and more diverse health and well-being services by utilizing our advanced digital tools, our wider geographical network and our combined occupational health expertise, ”Terveystalo’s CEO Ville Iho commented in the press release.
As a result of the acquisition plan, Terveystalo will postpone the publication of its semi-annual report for 2021 for about a month. The company will publish the report on August 12.
Correction 8.6. at 9.40: The title of the story was initially incorrectly written about 70 million euros.