Capio buys healthcare division of PE-backed Ambea

Carmen Reichman
14 November 2012

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Capio т a portfolio company of Apax and Nordic Capital т has acquired Carema Healthcare from Carema, the Swedish healthcare division of private equity-owned Ambea.

Following the acquisition of Carema Healthcare, the number of Capio's listed primary care patients will have doubled and the company will reinforce its offering in specialist areas such as orthopedics and psychiatry. It expects activity to increase by 25%.

Capio's Swedish operations will employ about 4,500 people and the business will have a turnover of around SEK 5.8bn. In total Capio Group will employ 11,000 people and generate SEK 12.1bn in revenues.

Capio was acquired by Apax and Nordic Capital in a €1.72bn take-private in December 2006. The company has since acquired several clinics, including Aguilera in France, as well as CFTK and Avesina in Sweden last December. It focuses exclusively on healthcare and operates St Göran's hospital in Stockholm.

Ambea, the parent company of Carema group, was bought by Triton and KKR in an €850m secondary buyout from 3i in early 2010, following talks of a potential IPO. The group also includes Finland's Mehiläinen and will have approximately 12,500 employees and yearly sales of SEK 7bn following the transfer of Carema Healthcare.

Carema plans to streamline operations and focus on care. The business will run 415 care homes and home service units throughout Sweden. Following the sale of the healthcare business, Carema will have more than 8,000 employees and a turnover of SEK 4.5bn in Sweden.

Company
Carema Healthcare operates 35 primary care centres and a number of specialist care operations around Sweden. The company employs around 1,400 people and is expecting to achieve a turnover of SEK 1.7bn in 2012.