Group CEO Joni Aaltonen considers that the acquisition of Pohjola Hospital will strengthen Pihlajalinna’s competitiveness in both the public and private health services markets:

“In line with Pihlajalinna’s growth strategy, we aim to expand our network of locations and range of specialised health care services in all regions, especially in areas with higher population density. Pohjola Hospital can boast with modern locations in Finland’s largest cities and a top quality surgical operations process. Treatment chains producing genuine health benefits with related sports services, as well as digital services and illness prevention, will continue to be at the heart of our development work going forward. Pohjola Hospital produces a service called Health Advisors for customers of Pohjola Insurance, and I am delighted to incorporate it as part of our operations as well.”

Pihlajalinna Terveys Ltd, part of Pihlajalinna Group, has agreed to acquire the entire stock of shares of Pohjola Hospital Ltd from its current owner Pohjola Insurance Ltd. The net debt-free purchase price, paid in cash, is EUR 31.8 million. In connection with the acquisition, Pihlajalinna will also sign a new five-year service agreement with Pohjola Insurance. Already, Pihlajalinna has previously partnered with Pohjola Insurance within the national multi-producer model. The service agreement to be signed in connection with the acquisition also covers a wide range of health services other than those offered by the acquired company.

Established back in 2013, Pohjola Hospital is a chain of hospitals specialising in orthopaedics, i.e. treatment of musculoskeletal disorders and accidents. The company’s net revenue was EUR 59.4 million in 2020 and EUR 74.2 million in 2019. The company’s largest customer is Pohjola Insurance Ltd.

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