Ownership of the Finnish health technology company Merivaara Corporation will change with the private equity firm Intera Partners purchasing a majority holding in the company. Merivaara’s management and other key employees will become significant minority shareholders. The new shareholders’ aim is to develop Merivaara’s business and strengthen the company’s competitive advantage and position in domestic and international markets. The sellers in the transaction include the current majority shareholders and Board Members Ilkka Laipio and Jukka Suominen, and a number of minority shareholders.
The health technology market is continuing to grow globally. Health technology accounts for approximately 29% of Finnish high-tech exports, growing annually by 3.8% on average (FiHTA, 2011). Merivaara develops, manufactures and sells hospital furniture and systems. The company’s new operating room systems are state-of-the-art solutions in the market. Exports generate almost 90% of the company’s sales, with the Nordic countries, Russia and rest of Europe being the largest market areas. The role of emerging markets is also increasing in Merivaara’s business.
“As an internationally growing company, Merivaara is a very interesting investment for Intera. The company has a long history, solid competence in the industry, and a strong market position in several countries. Furthermore, the extensive product portfolio with new system solutions gives us strong faith in the future. We will develop the operations further in cooperation with the management and personnel,” says Heikki Raulo, Director at Intera.
“We want to make Merivaara a success story in the future health technology market as well. I see this new phase as an excellent opportunity for development and growth. In addition, it will help to strengthen Finland’s position and credibility as an expert in health technology,” says Merivaara’s CEO Vesa Vihavainen.
The Merivaara group includes the Finnish company Merivaara Oy and its subsidiaries Merivaara AB in Sweden and Merivaara A/S in Norway. A fund managed by Intera Partners will become the majority shareholder in the new parent company established in connection with the acquisition, with a holding of approximately 65%. Merivaara’s key employees will hold approximately 35% of the new company.
The completion of the transaction is subject to approval by the competition authorities.
For further information, please contact:
Heikki Raulo, Intera Partners Oy, Director, +358 40 719 1589, heikki.raulo@interapartners.fi
Vesa Vihavainen, Merivaara Corporation, CEO, +358 3 3394 6261, vesa.vihavainen@merivaara.com
Merivaara Corporation
Founded in 1901, Merivaara develops and delivers furniture for hospitals, healthcare centres and medical clinics, nursing homes and home care. The company also offers integrated operating room systems and maintenance services that extend the lifetime of its products. Merivaara’s products and solutions—recognised for their ease of use, durability and ergonomic design—are already used in more than 120 countries. Merivaara’s sales for 2012 were close to EUR 40 million, and the company has a total of approximately 140 employees in four countries. The company’s headquarters, production and R&D are located in Lahti. In addition, Merivaara has subsidiaries dedicated to sales and marketing in Sweden and Norway, as well as a sales organisation in Russia. For additional information, visit www.merivaara.com.