Finland’s largest healthcare group is set to grow further – Terveystalo has "merged" with Diacor, which runs outpatient centres and a hospital in Helsinki, subject to regulatory approval. We spoke to CEO Yrjö Närhinen.
First half 2016 results for the major care home groups point towards solid 5-6% organic sales growth from Orpea and Korian with the latter gradually recovering from the crisis which saw the replacement of CEO Yann Coleou at the turn of 2015. Recently listed Nordic groups Attendo and Humana are benefitting from strong demand for new nursing home beds from public payors and expansion in Finland. But Swedish proposals to limit the return on public-private care services to 8% of return on equity plus net debt (before inflation) pushed shares down. Meanwhile, Middle Eastern investors have bought in to Italian operator KOS.
Brainshake is a Finnish biomedical company that claims to revolutionise blood testing. It tests for over 200 biomarkers opening a far broader window into the health state of an individual than existing blood tests. And despite beginning commercial operations just three years ago, it already has global ambitions and claims to be highly profitable – enough to secure €5m of primarily non-equity funding. We interviewed its CEO Teemu Suna.
The centre right Finnish government is embarking on a reform which radically expands patient choice and which effectively “privatises” public sector providers, leaving them to compete on a level playing field with private operators. We talk to operators about the changes and hear from advisors who express a more sceptical view.
Over the past decade, independent labs in the Nordics have had to endure dropping prices and the arrival of giant diagnostic players keen to consolidate. They are now trying to change their strategies.
The CEO of Norwegian care group Norlandia is to stand down in September, with her deputy taking her place.
Speaking to Healthcare Nova, Hilde-Britt Mellbye confirmed her replacement will be Yngvar Tov Herbjørnssønn, who is the group’s current organisational director and the deputy CEO. Mellbye will however be staying on until January 1, 2017, as an advisor to her replacement.
Reforms that will give patients freedom of choice over their treatment offers significant opportunities for the private sector in Finland, says Petri Heikkilä, senior manager at the consultancy Nordic Healthcare Group. The bill will be voted on in November, but Heikkilä claims investors are already showing more interest in the market.
Fees for private doctors in Finland rose up to 28% between 2010 and 2015 – three times higher than the 9% inflation rate. We speak to Ulla Tuominen, senior researcher at Kela (Finland’s social security) and Juha Tuominen medical director at Finland’s largest private operator Terveystalo.
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