Carema streamlines and focuses on care

Ambea - owner of Carema Group with a core business of running care homes - and Capio have signed an agreement to transfer Ambea Swedish healthcare operations Carema Healthcare to Capio. It includes 35 health centers and a number of specialist businesses around Sweden, with a total turnover of around 1 700 million.

"Today's agreement means that Carema streamlines operations to care. As the largest private care provider in Sweden, we can now focus on providing high-quality care together with all of our dedicated employees, thereby enhancing confidence for private care in Sweden. Swedish care faces huge challenges in the next decade that will require large investments. The sale of Carema Healthcare ensures a higher rate of investment in both existing and new care homes and we expect to launch at least 10 new care homes a year", says Fredrik Gren, CEO Ambea Group.

"Capio wants to continue being a leader in Swedish health care through high quality and remaining at the forefront by introducing better and gentler therapies - modern medicine. Along with Carema Healthcare employees, we will now be able to offer good primary care to twice the number of listed patients, and we reinforce our specialist offerings particularly in orthopedics and psychiatry. An increasing number of counties open for care choice in more specialties and today's acquisition provide new opportunities to offer Capio as an option for more patients," says Thomas Berglund, CEO Capio.

Facts about the deal:

Carema Healthcare operates 35 health centers and a number of specialist businesses around Sweden. The business has about 325,000 listed patients at its clinics and welcoming annually a total of 650,000 patient visits. Carema Healthcare has approximately 1,400 employees with an expected result in 2012 of roughly 1,700 MSEK.

Following today's agreement Carema will completely focus on managing long-term care business with over 415 care homes and home service units throughout Sweden. A total of about 7000 people live in units run by Carema. Carema will after the sale of the health care business have more than 8000 employees and a turnover of 4,500 MSEK in Sweden. Ambea also includes Finnish Mehiläinen, and the entire group will after the transfer have approximately 12,500 employees and yearly sales of 7000 MSEK.

Capio is focused exclusively on health care at different levels of medical care. Capio operates St. Göran's hospital in Stockholm since 10 years. By the takeover of Carema Healthcare, the number of Capio clinics in Sweden will increase to 70 with a total of 675,000 listed patients and the activity in specialist and local hospitals will increase by about 25 percent. After the takeover, Capio's Swedish operations will have 4500 employees and a turnover of around 5700 MSEK. Capio Group in total will after the takeover will have approximately 11,000 employees and 12 100 MSEK in sales.

Assuming approval by the Competition Authority, the transfer will be concluded by the end of the year.