Herkules’ Avonova acquires CapMan's Sensia

Sensia's primary care, occupational health services, specialist services and rehabilitation units have been acquired by Avonova. The purchase is part of Norway-based Stamina's growth strategy to establish itself as a healthcare provider across Scandinavia.

Following completion of the transaction, Avonova's management team will also become the management team for Sensia.

According to Stamina, 950,000 Norwegians are considered physically inactive, which costs the government €500m per year. The company also claimed that 70% of sick leave in the Norwegian private sector was caused by muscle and skeletal disorders due to low level activity.

Previous funding
Herkules acquired Norwegian private healthcare specialist Hjelp24 from Gjensidige for NOK 315.8m in June 2011. Its third fund, which closed on NOK 6bn in October 2008, was used to fund the transaction.

Four months later, Herkules bolted on Norwegian health services provider Friskhuset to Hjelp24. 

In September 2012, Herkules created Stamina Hot by merging 55 fitness centres with 40 occupational health service offices from Hjelp24. The centres offer exercise and preventive health services. 

In December that year, Stamina acquired Avonova for SEK 194m, at SEK 34 per share for 5.6 million shares from the AktieTorget stock exchange. 

CapMan acquired an 83.77% stake in Sensia in June 2010 via CapMan Life Science IV, according to unquote" data.

Company
Founded in 1990 and headquartered in Lulea, Sensia provides both primary healthcare and rehabilitation treatment. It has 300 employees in Sweden across 40 locations.

Avonova Sweden is a private healthcare operator and supplier, focusing on occupational health, primary care and leadership support. It has 850 employees at 120 locations and 5,000 corporate customers, including government agencies and corporate clients.

Oslo-headquartered Stamina is a private healthcare provider with 43 offices across Norway, with a subsidiary in Stockholm. It has five business areas covering occupational health services, physical fitness and medical treatment, HSE courses and systems, industrial hygiene and organisational psychology. Stamina has around 70,000 members and 4,300 corporate clients.

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• Topics
• Nordics
• Portfolio management
• Healthcare
• Sweden
• Norway
• CapMan
• Herkules Capital