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2007-09-18 08:00:00 CEST 2007-09-18 08:00:00 CEST REGULATED INFORMATION Suomen Terveystalo Oyj - Company AnnouncementSuomen Terveystalo initiates a restructuring planSuomen Terveystalo Group achieved significant growth with the acquisition of Medivire Työterveyspalvelut Oy, which entered into force on September 1, 2007. Following the acquisition, the Group is now initiating a business restructuring plan. The aim is to clarify operating procedures, boost the efficiency of the unit network and reduce overlaps. Support and administrative services will be simplified to better correspond to the current and future needs of the Group's extended business operations. The restructuring will affect the entire personnel of Suomen Terveystalo Group. Restructuring will mainly target those working in administrative positions, as well as in support functions in regional and unit-level organizations. The entire restructuring process is scheduled to be completed by the end of 2008. Decisions concerning information systems and other factors may affect the schedule. By eliminating overlaps and restructuring units and functions, the Group anticipates it will achieve a reduction of some 100 man-years from the current level by the end of 2008. Some reductions will be achieved through natural attrition and potential outsourcings. Suomen Terveystalo Group currently employs more than 2 300 people. Due to the restructuring, the Group will initiate statutory negotiations with the personnel starting in September on a function-specific basis. The goal of the negotiations is to find opportunities for transfers within the Group. It is likely that redundancies cannot be avoided. Suomen Terveystalo Oyj Martti Kiuru CEO For additional information, please contact: Martti Kiuru, Managing Director, Suomen Terveystalo Oyj, tel. +358 9 2310 6100 Johanna Karppi, Head of Human Resources, Suomen Terveystalo Oyj, tel. +358 9 2310 6100 Distribution: Helsinki Stock Exchange Principal media Suomen Terveystalo Suomen Terveystalo is the leading company producing healthcare services in Finland. The company offers healthcare, occupational healthcare and hospital services to private individuals, companies and corporations through more than 150 clinics across Finland. The company, which was founded in 2001, has grown strongly. In 2006, turnover was EUR 88.9 million and operating profit EUR 5.1 million. The company's stock is listed on the Helsinki Stock Exchange under the ticker code SUT1V. www.terveystalo.com |
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