HELSINKI, Sept 14 (Reuters) - Finland’s largest healthcare company, Terveystalo, said on Thursday it was planning to raise around 100 million euros ($119 million) by relisting on the Helsinki bourse’s main list.
The company was listed in Helsinki in 2007-2009 before buyout fund Bridgestone bought it out.
Existing owners will sell some shares along with the new share issue, Terveystalo said. The company is currently 92-percent owned by Swedish private equity firm EQT.
CEO Yrjo Narhinen said in a statement that the government’s proposed health care financing reform was improving the outlook for the sector.
“There is an increasing demand for healthcare services and Finland has a large, attractive and growing healthcare market... The social and healthcare reform is critical for Finland, and in order to meet the goals... we need both public and private resources.”
Some Finnish pension funds and other institutional investors have commited to taking a stake of around 36 percent of the shares at a maximum valuation of 1.25 billion euros, Terveystalo said.
Terveystalo acquired Finnish healthcare company Diacor earlier this year and now has annual sales of around 700 million euros and 180 clinics across the country.
Carnegie, Morgan Stanley, Skandinaviska Enskilda Banken are among banks arranging the IPO.
$1 = 0.8417 euros Reporting by Jussi Rosendahl; editing by Jason Neely