Information on the target
Terveystalo Healthcare Oy has successfully completed the acquisition of Hohde Group on September 4, 2026. The transaction was publicly announced in December 2025 and required approval from the Finnish Competition and Consumer Authority (KKV), which granted its consent on September 3, 2026, under certain commitments from Terveystalo. Hohde Group consists of Hammas Hohteesta and Loisto Laboratorioista, and has emerged as one of Finland's largest private providers of dental and dental laboratory services in recent years.
The agreement for the acquisition was signed on December 23, 2025, between the shareholders of Hohde Group and Terveystalo. The shareholders included funds managed by Sentica, specifically Sentica Buyout V Ky and Sentica Buyout V Co-Investment Ky. The enterprise value of Hohde Group was established at €88 million at the time of the transaction. During Sentica's ownership, the revenue of Hohde Group increased more than tenfold, reflecting significant growth since its initial investment in Hammas Hohteeseen in November 2018.
Industry overview in the target’s specific country
The Hospitals, Clinics & Primary Care Services industry in Finland has experienced robust growth, driven by an increasing demand for healthcare services and a rising emphasis on preventive care. The Finnish healthcare system is characterized by a mix of public and private providers, with the private sector playing an increasingly vital role in delivering specialized services, particularly in dental care. This trend has been further accelerated by demographic changes, including an aging population that requires more comprehensive healthcare solutions.
In recent years, the Finnish government has implemented reforms aimed at enhancing the efficiency and accessibility of healthcare services. These reforms have encouraged private investments in the sector, leading to the expansion of private clinics and hospitals. The integration of advanced technologies and digital health solutions has also transformed service delivery, allowing for improved patient outcomes and operational efficiencies.
The dental care segment, in particular, has seen significant advancements, with private providers like Hohde Group expanding their service offerings to meet the growing needs of the population. The competitive landscape is marked by a mix of established players and new entrants, all vying for market share in a sector that is projected to continue its upward trajectory. The demand for high-quality dental services has prompted providers to innovate and enhance their service delivery models.
Overall, the Hospitals, Clinics & Primary Care Services industry in Finland is poised for continued growth, supported by favorable regulatory changes, demographic trends, and increasing consumer…