UNQUOTE

FINLAND - CapMan exits from Mehiläinen

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CapMan funds Finnventure V and Finnmezzanine III will sell their shares in Mehiläinen Oyj to H-Careholding AB, the owner of Carema. The consideration offered values the equity of Mehiläinen at EUR 152m and prior to the exit the funds have approximately 47% of the shares in the company.

'The transaction enables mutual exploitation of the strengths and special know-how of both companies. As a result of today’s closing, the united entity will form a leading player on the Nordic private healthcare market,' states CapMan’s senior partner Tuomas Lang, who is also the Chairman of Mehiläinen.

Finnventure Fund V invested in Mehiläinen in December 2000, Sitra in January 2001 and Finnmezzanine Fund III in 2003. During the period of CapMan’s investment, Mehiläinen has grown into Finland’s leading producer of private healthcare services.

The nationwide chain operates through 7 hospitals, 17 full service private clinics, 18 occupational healthcare centres and an elderly people’s home. Net sales have increased from MEUR 39.5 to MEUR 97.4 and operating income from MEUR 3.2 to MEUR 8.4.

The transaction requires the approval of the competition authorities. Alfred Berg ABN AMRO acted as financial adviser and Roschier Holmberg Attorneys Ltd as legal adviser to CapMan, the other sellers and Mehiläinen.

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