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Humana expands into Finland through acquisition

2016-05-04 09:00

Humana AB, a leading Nordic care company, acquires the leading Finnish psychosocial care provider Arjessa. As a result of the acquisition Humana establishes a strong platform for continued growth in Finland.             

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Humana AB has entered into an agreement to acquire all shares in Arjessa Oy (“Arjessa” or the “Company”) from funds managed by Sentica Partners Oy and a number of private individuals. The transaction is subject to approval by the Finnish competition authorities and is expected to be finalized by the end of the second quarter of 2016.

The enterprise value of the acquisition target is EUR 32 million. The transaction price will be financed through cash and existing credit facilities at closing. In 2015, Arjessa had net sales of EUR 32.1 million and EBITA of EUR 3.1 million. The Company has more than 800 full-year and part time employees. The change in ownership will not affect the operations or personnel of Arjessa.

- Expanding into Finland is in line with Humana's growth strategy and the acquisition of Arjessa is an important step in Humana's ambition to become the leading care company in the Nordic region, says Rasmus Nerman, CEO of Humana. Arjessa and its management team offers an optimal platform for continued expansion in Finland and the acquisition further strengthens Humana's position as the leading Nordic player within individual and family care, Rasmus Nerman concludes.

Arjessa is a leading Finnish high-quality provider of full responsibility psychiatric and psychosocial treatments for children, adolescents and their families, with a significant market presence and national reach. With its position as Finland’s largest private provider within child & family open care and the second largest provider within child welfare institutional care, the Company complements Humana’s business area Individual & Family, especially given Humana’s presence and expertise within psychosocial care. Arjessa and Humana will together form the by far leading Nordic provider within individual and family care.

- Arjessa and Humana fit well together both from an operational and cultural perspective, comments Pasi Kohtala, CEO of Arjessa. We share the same core values and have a consensus view on how good care is carried out. The Arjessa management team look forward to becoming a part of Humana and taking advantage of their deep knowledge to further develop and expand our activities and customer offering within social care.

The acquisition is expected to have a positive contribution on revenues and earnings per share during 2016.

For more information, please contact:
Ulf Bonnevier, CFO, +46 70 164 73 17,
Cecilia Lannebo, Head of Investor Relations, +46 72-220 82 77,

The information is such that Humana AB (publ) is required to disclose in accordance with the Swedish Financial Instruments Trading Act and/or the Swedish Securities Market Act. The information was submitted for publication at 09.00 CET on May 4, 2016.

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 more than 14 000 employees in Sweden and Norway providing care for over 7 000 individuals, and working towards the vision “Everyone is entitled to a good life”. In 2015, Humana’s operating revenue was SEK 5 655 M. The company’s headquarters are located in Stockholm, Sweden. Read more about Humana on or