Media release, 12 September 2006
The share transfers agreed in conjunction with the establishment of the Terveysrahasto health-care fund have now been concluded. Sitra sold its holdings in Coxa Oy (20.6%), Respecta Oy (24.3%) and Suomen Terveystutkumus Oy (25.0%) to the Terveysrahasto health-care fund.
“The Terveysrahasto health-care fund aims to accelerate the process by which these companies’ best practices will become available to more and more Finns,” says Hannu Hanhijärvi, Executive Director of Sitra’s Health Care Programme and Chairman of the Board of Terveysrahasto Oy.
“These investments are in line with the Terveysrahasto health-care fund’s investment policies. All the target companies represent the best practices in their field and are market leaders in their respective branches. The other shareholders in the companies include municipalities, hospital districts, and third sector operators,” says Vesa Lehtomäki, CEO of Korona Invest Oy, the company managing the Terveysrahasto health-care fund.
Respecta Oy provides research-based and individualised services in the field of assisting devices, aimed at improving users’ independence, quality of life and environment. The company recorded net sales of €21.3 million in 2005.
Coxa Oy is a hospital specialising in joint replacement that provides the Pirkanmaa Hospital District with endoprosthetic surgery and supervises the quality of operations. It also offers nationwide services in extremely demanding endoprosthetic operations. The company recorded net sales of €21.9 million in 2005.
Suomen Terveystutkimus Oy conducts mammography screening operations, a financially and functionally high-quality form of public health promotion. The company recorded net sales of €5.2 million in 2005.
Hannu Hanhijärvi, Chairman of the Board
Tel. (09) 6189 9261, 050 537 8797
Korona Invest Oy
Pasi Lehtinen, Investment Manager
Tel. 050 387 3196