Bridgepoint Bids for Finnish Healthcare Provider

HELSINKI (Reuters) – Britain-based buyout firm Bridgepoint launched a 162 million euro ($215.5 million) approved takeover bid on Monday for Finland’s Terveystalo Healthcare Oyj (SUT1V.HE). Bridgepoint said it was offering 2 euros per share in cash for healthcare provider Terveystalo, a premium of 203 percent on the firm’s closing price on Friday.

Terveystalo shares soared 185 percent to 1.88 euros.

Shareholders owning 52 percent of shares and votes backed the deal, Bridgepoint said, as did Terveystalo’s board. The offer will run from Jan. 26 to Feb. 16.

“As the demand for healthcare services in Finland is increasing, the need for the private sector to complement the public healthcare is also growing,” Bridgepoint said in a statement.

“Terveystalo is the leading private healthcare service provider in Finland and has therefore … possibilities to respond to this market trend,” it said. (Reporting by Brett Young, editing by Will Waterman)