Reorganisation of LSS operations
In order to focus and strengthen opportunities for future quality improvements and growth Humana has decided to concentrate its LSS operations under one organisation. The change means that special services housing operations that were previously conducted in the Elderly Care business area will be included in the Individual & Family business area from the third quarter. The change affects the historical and future distribution of revenues and earnings between Humana’s business areas.
Humana has decided from the third quarter of 2016 to concentrate its special services housing operations (operations governed by the Act concerning Support and Service for Persons with Certain Functional Impairments) under the Individual & Family business area. The reorganisation creates a larger business with increased opportunities for growth. Operating all of Humana’s special services housing within the Individual & Family business area increases our ability to secure and better meet the individual’s care needs as those needs change over time. Humana sees an opportunity for more value creation in our care chains, while existing expertise in Individual & Family provides potential for continuing to establish more highly specialised units. The reorganisation also streamlines the Elderly Care business area. Humana’s future focus in the Elderly Care business area will be to utilise the good growth opportunities the company sees in the area for establishing our own managed elderly housing. The change will not lead to any restructuring costs.
Revenues from LSS operations that will be transferred from the Elderly Care to the Individual & Family business area amounted to SEK 152 million in 2015 and operating profit amounted to SEK 4 million. During the first half of 2016, revenues amounted to SEK 81 million and operating profit to SEK 0 million. Historical pro forma figures by full year and quarter are shown in the attached pdf.
For more information, please contact:
Rasmus Nerman, CEO, +46 70-828 18 60, rasmus.nerman@humana.se
Ulf Bonnevier, CFO, +46 70-164 73 17, ulf.bonnevier@humana.se
Cecilia Lannebo, Head of Investor Relations, +46 72-220 82 77, cecilia.lannebo@humana.se
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 16,000 employees in Sweden, Norway and Finland providing care for over 8,000 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 humana.se or humanagroup.se