Suomen Terveystalo Oyj has today signed an agreement that completes the acquisition of Medivire TTP Holding Oy's stock. On June 29, 2007, the company reported the signing of a sales contract connected to the acquisition. The deal price was EUR 128.2 million. Medivire TTP Holding Oy owns 97.67 per cent of Medivire Työterveyspalvelut Oy's stock, which is Finland's leading provider of occupational healthcare services. During September 2007, Suomen Terveystalo will make a redemption offer to the 124 private individuals who own the remaining 2.33 per cent of Medivire TTP Holding Oy. Suomen Terveystalo Group is now the leading provider of healthcare services in Finland, measured by both turnover and the extent of its network. In terms of occupational healthcare services, the company is responsible for the healthcare services of more than 11,000 corporate customers and more than 350,000 individuals. Suomen Terveystalo Group has grown considerably and integration of its services and internal operating methods has lead to its reorganization. All occupational healthcare services offered will be centralized into one business segment which will be lead by business segment director Kimmo Karvonen, former managing director of Medivire Työterveyspalvelut Oy. The Clinics and Hospitals segment will continue as a separate entity and remain the responsibility of business manager Veli-Pekka Joki-Erkkilä. The merger between Suomen Terveystalo and Medivire Työterveyspalvelut does not affect the structure of the Diagnostics segment. The Diagnostics segment is still lead by business manager Ilkka Lehto. The company estimates that the reorganization and dissolution of overlapping operations can lead to EUR 3-5 million synergy benefits at an annual level. The synergy benefits are expected to be particularly connected to group operations and local as well as unit-specific administration and support operations. Savings are also expected to be generated from combining offices and operations in different locations. In terms of business operations, the synergy benefits are expected to be mainly connected to the utilization of services produced within the Group. For instance, Medivire Työterveyspalvelut's diagnostic and special healthcare services, which have previously been outsourced, will now be produced within Suomen Terveystalo Group. Most of the synergy benefits are expected to take effect from 2008 onwards. Their materialization and timing is partially affected by how quickly the existing cooperation, lease and other agreements can be revised and how functional that proves to be. The reorganization does not affect the extent or availability of the Group's services. Suomen Terveystalo Oyj Martti Kiuru CEO For additional information, please contact: Martti Kiuru, Managing Director, Suomen Terveystalo Oyj, tel. +358 9 2310 6100 Distribution: Helsinki Stock Exchange Principal media Suomen Terveystalo Suomen Terveystalo is the leading company producing healthcare services in Finland. The company offers healthcare, occupational healthcare and hospital services to private individuals, companies and corporations through more than 150 clinics across Finland. The company, which was founded in 2001, has grown strongly. In 2006, turnover was EUR 88.9 million and operating profit EUR 5.1 million. The company's stock is listed on the Helsinki Stock Exchange under the ticker code SUT1V. www.terveystalo.com
Suomen Terveystalo completes acquisition of Medivire Työterveyspalvelut
| Source: Terveystalo Healthcare Oyj