HELSINKI (Reuters) - Finnish healthcare company Terveystalo (TTALO.HE) has agreed to buy Swedish rival Attendo’s (ATTE.ST) Finnish operations for 233 million euros ($275 million), it said on Thursday.
Having indicated last week that it was considering a potential deal, Terveystalo said the acquisition includes Attendo’s Finnish primary care, specialist care, staffing and dental operations.
The business achieved revenue of 235 million euros last year, compared with Terveystalo’s sales of 690 million euros.
“The highly complementary transaction will improve Terveystalo’s competitiveness and growth opportunities, particularly within services offered to the public sector,” Terveystalo said in a statement, having last week said that it was considering a .
Terveystalo has made its move ahead of a potential legislative shake-up in the Finnish healthcare sector, with the government’s healthcare reform bill proceeding to a vote next month. The bill is aimed at boosting competition between healthcare providers by opening up more opportunities to the private sector.
The Attendo deal, subject to approval by Finnish antitrust authorities, is expected to be completed late this year.
Reporting by Jussi Rosendahl; Editing by David Goodman