IK looking to exit Attendo

IK acquired Attendo from Bridgepoint and other investors in January 2007. The company has since acquired Finnish MedOne, thereby expanding its presence to cover the whole of Nordics and doubling sales from SEK 2.8bn to around SEK 6.5bn.

Local financial newspaper Dagens Industri reported that an Attendo IPO had previously been rumoured, but that an exit to a trade player now seems more likely. Private healthcare provider Aleris, backed by Investor, has been named as a potential candidate.

As previously reported, Swedish private equity-backed care homes have been criticised in local media and by politicians for alleged profit-driven patient neglect. The minister for Children and the Elderly, Maria Larsson, recently instructed the National Board of Health and Welfare to review the quality of care in public versus private sector.

The Swedish minister for Finance, Anders Borg, simultaneously repeated threats of legislation against alleged private equity tax evasion. He estimated a proposal to be finished by spring 2012, with the possibility of coming into effect by January 2013. In the meantime, the City of Stockholm has terminated its contract with Carema Care and suspended all invitations to tender in elderly care.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Sweden
• IK Investment Partners