Mehiläinen and LocalTapiola to start a strategic partnership: LocalTapiola becomes Mehiläinen's shareholder
Helsinki (Finland), 13 June 2017 – Mehiläinen, a Triton Fund III company, and LocalTapiola, a leading Finnish insurance company, will start a strategic partnership. The aim of the companies is to enable a more streamlined service for shared customers and to develop new innovative insurance and health services. At the same time, LocalTapiola will acquire 10% share of Mehiläinen.
Hundreds of years of Finnish history of both companies and their strong commitment to quality and customer service create a common value base for building a new strategic partnership. The new cooperation enables significant benefits for customers: faster healthcare, digital services, new ways of insuring health, extensive services and a nationwide service network.
- As a lifelong security company owned by our customers, we want to develop new ways to take care of and insure health and increase Finns’ freedom of choice in healthcare. Through partnership, our customers have access to the entire nationwide network of Mehiläinen and we will be able to offer even higher quality insurance-financed healthcare services throughout Finland. These examples include our new health insurance and our occupational health insurance. We will launch our first new joint services with Mehiläinen this year, says Erkki Moisander, CEO of the LocalTapiola Group.
Janne-Olli Järvenpää, CEO of Mehiläinen, estimates that the signed cooperation agreement will have a positive impact on Mehiläinen's growth and profitability.
- We believe that Mehiläinen's share of LocalTapiolas health care insured customers will increase significantly through this agreement. This, in turn, allows us to continuously develop our outpatient clinic and hospital services and extend our service network to new locations, he says.
Mehiläinen's Finnish ownership base expands
When starting a strategic partnership, LocalTapiola will also acquire 10% share of Mehiläinen Oy. 1.6 million Finnish owner-customers of the LocalTapiola Group are now also indirectly owners of Mehiläinen.
- We are delighted to get a long-term Finnish institution, LocalTapiola, as our new shareholder. Mehiläinen has a significant Finnish long-term ownership base, because in addition to LocalTapiola, also insurance companies Ilmarinen and Varma are Mehiläinen’s shareholders, says Mehiläinen’s Janne-Olli Järvenpää.
- Mehiläinen is a nationwide healthcare company whose large nationwide network, comprehensive range of services and strong investments in customer experience and development makes it an interesting strategic partner for the LocalTapiola, says Erikki Moisander from LocalTapiola.
About Mehiläinen
Mehiläinen Group is a well-known and highly valued private provider of healthcare and social services in Finland, offering comprehensive high-quality services quickly and smoothly to private, corporate, and municipal customers. Mehiläinen provides help, support, and care for more than a million customers in a year. Mehiläinen provides services at over 290 locations nationwide by more than 11,500 employees and private practitioners. For further information: www.mehilainen.fi
About LocalTapiola
LocalTapiola Group is a mutual group of companies owned by its customers. LocalTapiola's mission is to safeguard its owner-customers' lives and success. Our vision is to offer Finnish people a safer and healthier life. The lifelong security concept means comprehensive and proactive services. LocalTapiola serves private customers, farmers, entrepreneurs, corporate customers and organisations. The number of owner-customers is approximately 1.6 million. The Group consists of 20 regional mutual insurance companies, as well as the national companies, LocalTapiola General, LocalTapiola Life, LocalTapiola Asset Management and LocalTapiola Real Estate Asset Management. LocalTapiola employs approximately 3,400 people, half of whom work in the regional companies. For further information: www.lahitapiola.fi/localtapiola
About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 29 companies currently in Triton's portfolio have combined sales of around €13.9 billion and around 86,000 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.
For further information: www.triton-partners.com
