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2007-11-20 08:45:00 CET 2007-11-20 08:45:00 CET REGULATED INFORMATION Suomen Terveystalo Oyj - Company AnnouncementSuomen Terveystalo acquires the Red Cross' clinic operations in Kouvola and Mikkeli and the remaining stock in Kouvolan Lääkäritalo Röntgen OySUOMEN TERVEYSTALO OYJ STOCK EXCHANGE RELEASE November 20, 2007 at 9.45 am Suomen Terveystalo acquires the Red Cross' clinic operations in Kouvola and Mikkeli and the remaining stock in Kouvolan Lääkäritalo Röntgen Oy Suomen Terveystalo Group has acquired from the Finnish Red Cross' South-East Finland District its clinic operations in Kouvola and Mikkeli and 50 per cent of the stock in Kouvolan Lääkäritalo Röntgen Oy. A directed issue to be subscribed by the Finnish Red Cross' South-East Finland District is carried out in connection with the acquisition. The deal strengthens Terveystalo's position in the Kouvola and Mikkeli regions. Suomen Terveystalo Oyj has, by an agreement signed today (November 20, 2007), acquired from the Finnish Red Cross' South-East Finland District the clinic operations in Kouvola and Mikkeli and 50 per cent of the stock in Kouvolan Lääkäritalo Röntgen Oy. Pohjois-Kymen Ultra-Tutko Oy, which is part of the Terveystalo Group, already owns 50 per cent in Kouvolan Röntgen Oy. As a result of the deal, Kouvolan Lääkäritalo Röntgen Oy will become a wholly owned part of the Suomen Terveystalo Group. The combined turnover of the acquired operations in 2006 was approximately EUR 1.9 million. The combined acquisition price of the operations and shares is EUR 0.8 million. The acquisition price will be paid in cash, and a total of 97,000 new Suomen Terveystalo Oyj shares at a subscription price of EUR 2.47 per share are offered to the seller. Based on an authorization given by the Annual General Meeting on May 28, 2007, the Board of Directors of Suomen Terveystalo Oyj have decided on a directed share issue deviating from the shareholders' pre-emptive subscription right, where a total of 97,000 new Suomen Terveystalo Oyj shares are offered for subscription to the Finnish Red Cross' South-East Finland District at a subscription price of EUR 2.47 per share in order to complete the above mentioned acquisition. The subscription price is based on the terms of the sales contract and corresponds with the trading-weighted average share price of Suomen Terveystalo Oyj's share at the OMX Nordic Stock Exchange in Helsinki between October 1, 2007, and October 30, 2007. If the directed issue is subscribed and paid for in full, Suomen Terveystalo Oyj's share capital will increase from the registered EUR 680,466.63 by a total of EUR 970 to EUR 681,436.63, while EUR 0.01 per share of the subscription price is registered as an increase in the share capital. The number of shares prior to the directed issue is 68,046,663. If the issue is subscribed and paid for in full, the number of shares will be 68,143,663. An application for public trading of the new shares on the OMX Nordic Stock Exchange in Helsinki will be made by December 17, 2007, with similar conditions as Suomen Terveystalo Oyj's publicly traded shares. "Competition has tightened continuously in the private healthcare service sector. Success requires investments, both in terms of resources and in know-how. These operations are not part of the Red Cross' core operations. By giving it up we expect to be able to better focus on the Red Cross' core operations,” says Arja Vainio, Executive Manager of the Finnish Red Cross' South-East Finland District. "Giving up these operations means a considerable change in the operating culture of the Red Cross in South-East Finland. The Mikkeli clinic was founded in 1976 by the Red Cross' Mikkeli District, and the Kymi District was involved in the operation of Kouvolan Lääkäritalon since 1966 when the clinic was completed. When the Kymi and Mikkeli Districts were combined into the Finnish Red Cross' South-East Finland District in 1996 the clinics became a more important part in the District's operations and fund raising,” Arja Vainio explains. ”The Red Cross' clinic operations have a long tradition in South-East Finland. With the Kouvola and Mikkeli clinics and Mikkeli Röntgen now becoming wholly-owned by the Terveystalo Group, our position is considerably strengthened in Kouvola and Mikkeli as well as the entire South-East Finland region,” says Heli Koskinen, Regional Manager of Terveystalo's South-East Finland operations. SUOMEN TERVEYSTALO OYJ Martti Kiuru Managing Director For additional information, please contact: Regional Manager Heli Koskinen, tel. +358 40 544 8392, heli.koskinen@terveystalo.com The bulletin is available at: http://www.terveystalo.com 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 the public sector through more than 150 offices across Finland. The company, which was founded in 2001, has grown strongly. The company share is listed on the OMX Nordic Exchange Helsinki under the code SUT1V. Distribution: OMX Nordic Exchange Helsinki Principal media |
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