3i divests Nordic healthcare group Ambea for EUR 850 million

23 Feb 2010

3i, an international leader in private equity, and funds managed by 3i, have agreed the sale of their stake in Ambea, a leading private provider of healthcare and care services across the Nordic region, to Triton for approximately € 850 million on a cash and debt free basis. 

Ambea is the leading provider of healthcare and care services in the Nordic region and one of the largest European healthcare service providers. The group provides a unique platform for continuous balanced growth, based on a key strategy to be the provider of choice in offering high quality services.

Ambea was created through the acquisition of Swedish based Carema in 2005 and the subsequent acquisition of Finnish based Mehiläinen in 2006, allowing the Group to develop from a local Swedish player into the Nordic market leader. During the time of 3i’s investment period, Ambea has integrated more than two dozen acquisitions and currently employs around 9,500 staff across Finland, Sweden and Norway. Its strong national brands, especially Carema in Sweden and Mehiläinen in Finland, are known for providing high-quality services. 

In 2009 alone, physicians across the group handled almost two million patient visits, provided services for 400,000 occupational health customers, performed nearly 15,000 elective surgeries and managed approximately 5,500 care beds. Net sales and EBITA have grown significantly during 3i’s holding period averaging 15% (sales) and 31% (EBITA) growth per year from 2004PF to 2009. In 2009, the company recorded sales of SEK 7.3 billion and EBITA of SEK 624 million.

Gustav Bard, 3i partner and managing director of 3i’s Nordic operations, said: “Ambea has delivered strong organic and acquisitive growth throughout the five years we have been involved with the business, demonstrating not only the quality of its care services but also the strength and depth of its management team. We believe the business is well positioned to carry this success into the future under its new ownership.”

Tomas Ekman, 3i partner healthcare said ”3i has worked closely with Ambea’s excellent board and management team over the past five years in order to develop and build a market leading healthcare and care services business throughout the Nordic region. 3i’s deep experience in helping healthcare companies consolidate and internationalise their offering has proved invaluable in developing Ambea.”

Ralph Riber, president and CEO Ambea AB, said “Over the past five years Ambea has been working in close collaboration with 3i, drawing on its vast expertise to position the Group as a Nordic market leader. I see great potential to further develop Ambea’s quality service offering and look forward to continuing this exciting journey under the stewardship of the new owners.”

The deal is subject to the approval of the anti-trust authorities.

Notes to editors

About 3i
3i is a FTSE100 company and an international leader in private equity. We focus on buyouts, growth capital and infrastructure and invest across Europe, Asia and North America. Our competitive advantage comes from our international network and the strength and breadth of our business relationships. These underpin the value that we deliver to our portfolio, shareholders and investors.

http://www.3i.com

Healthcare
3i's healthcare team has invested over €1.6bn in 36 healthcare companies since April 2001 across Europe, North America and Asia. We invest in Pharmaceuticals, Medical Technology and Healthcare Services companies led by management teams with a strong track record and the ambition to build lasting value. 3i's recent investments in the healthcare sector include: Quintiles Transnational, Axellia (formerly Alpharma API) and LHi Technology.

For further information please contact:

Kathryn van der Kroft
email. kathryn.vanderkroft@3i.com
tel.  +44 207 975 3021