Adelis exits Med Group after three-year holding

Tradeka purchases Med Group's home services, emergency services and public healthcare services, while Colosseum Dental Group acquires Med Group's private oral healthcare business.

Med Group intends to pursue its growth strategy under the new ownership, expanding its home services, dentistry and ambulance services established under Adelis. 

The group operates under the Onni brand, one of Finland's fastest growing social and healthcare companies providing care services for home delivery. It currently provides personal assistance and is expanding its footprint in homecare for the elderly.

As part of Tradeka's ownership, Med Group offers home-based services, as well as primary care and dental and medical services to the public sector. Med Group and the Onni brand will be owned by Tradeka. As a result of the deal, the private oral healthcare business is combined with Tradeka's Oral Dentists.

After acquiring the firm via its Adelis Equity Partners I fund, Adelis eventually saw the turnover of the company double to €100m and the number of employees increase from 800 to 3,000.

Adelis closed its maiden fund on €410m in October 2013. Its Adelis Equity Partners Fund II held a final close on €600m in June 2017.

Previous funding
Sweden's Adelis acquired a majority stake in Med Group from healthcare financing fund Terveysrahasto and the company's founders in November 2014. Terveysrahasto owned 38% of the business before the transaction, making it the largest single owner.

Following the management buyout, the two founders and the management team retained a significant minority shareholding in the company.

The former founder and CEO of Capio and Global Health Partner, Per Båtelson, also invested in the company as part of the deal; he became a board member and adviser to Med Group's management.

Company
Founded in 2007, Med Group is a Finnish healthcare company providing ambulance, medical, oral healthcare, homecare and personal assistance services. Many of these are provided in partnership with Finland's public sector.

Based in Vantaa, near Helsinki, Med Group employs 3,000 people and generated revenues of €100m in 2017.

People
Adelis – Rasmus Molander (partner).
Med Group – Kari Virta (CEO).

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• Topics
• Exits
• Nordics
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• Sweden
• Finland
• Adelis Equity Partners
• Trade sale