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Bridgepoint exits Terveystalo to EQT

10 Sep 2013

healthcaresq_lrgPrivate equity firm Bridgepoint has exited its investment in Finnish private healthcare provider Terveystalo, which has been sold to Swedish buyout firm EQT.

The firm did not disclose the financial terms of the deal, but said that the exit will bring total cash proceeds from its portfolios in the year to date to €1.5bn.

Terveystalo offers occupational health and primary healthcare services including surgery at over 130 hospitals and clinics that cover 90 per cent of Finland’s population.

During Bridgepoint’s ownership, the company received a €160m investment in its clinic network, IT infrastructure and service delivery, including €120 million  to fund three strategic and 12 bolt-on acquisitions.

Since being acquired by Bridgepoint in 2009, Terveystalo has seen its EBITDA more than double to €52.3m on revenues of €455m.

Bridgepoint partner Håkan Johansson said, “The acceleration in Terveystalo’s performance was the result of a business change programme that included significant investment in clinic infrastructure, service delivery and marketing coupled with a strengthening of the group’s management team.

“That operational transformation is now complete and Terveystalo is the most highly rated healthcare provider in Finland with a leading market position that has attracted further investment from a new shareholder.”

Earlier this month it was reported that Bridgepoint was seeking to exit Dutch educational publishing company Noordhoff Uitgevers.

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