Evli Corporate Finance is pleased to announce that it advised the Nordic care provider, Humana AB on its acquisition of Coronaria Hoiva Oy. The transaction is subject to approval by the Finnish competition authorities and is expected to be finalized during the first quarter of 2019, but no later than during the second quarter of 2019.
Coronaria Hoiva is one of the largest private social care providers in Finland with adjusted net sales of EUR 54 million in 2018 and some 1,100 employees. The operations focus on residential care services for disabled and elderly as well as care and housing for people with psychosocial and substance abuse problems. The growth-oriented company consists of 63 units with another four units planned to open in 2019.
Humana entered the Finnish market in 2016 through the acquisition of Arjessa Oy which at the time had net sales of EUR 32 million. Back then Evli advised the previous owners of Arjessa on the sale of the company to Humana.
Combined, Humana’s Finnish subsidiary Arjessa and Coronaria Hoiva will become one of the largest care providers in Finland with ca. EUR 120 million in net sales and ca. 2,500 employees.
The transaction further fortifies Evli Corporate Finance’s position as a leading advisor within the Nordic healthcare sector.