Swedish Primary care group Novakliniken being acquired by Capio

Capio has signed an agreement to acquire 100% of Novakliniken with operations in the southeastern parts of Skåne, Sweden. Novakliniken operates eight primary care centers and two branches, and provides some occupational health and dental services.

2017 net sales were MSEK 245. The acquisition of Novakliniken complements and strengthens Capio’s presence and healthcare offering in Skåne.

Novakliniken’s units are located in the eastern parts of Skåne and the acquisition complements Capio’s existing primary care operations well, as Capio Proximity Care, before the acquisition, only runs one primary care center in the southeastern parts of Skåne. Novakliniken has about 45,000 listed patients and is since its inception in 1987 a well-established healthcare provider in the region.

The primary care operations are remunerated based on Region Skåne’s free healthcare choice model for primary care and represents about 90% of Novakliniken’s net sales. After the acquisition, Capio will have 28 primary care centers and about 220,000 listed patients in Region Skåne. In total, the business area Capio Proximity Care will provide primary care at 93 centers with close to 800,000 listed patients across twelve county councils and regions in Sweden.

“The acquisition of Novakliniken further strengthens Capio Proximity Care’s position as a leading primary care provider in Sweden. It also increases our presence in Skåne as well as the patient base for Capio’s digi-physical offering with digital consultations and a broad network of physical care units”, says Britta Wallgren, Country President of Capio in Sweden.

Since November, all of Capio’s existing primary care centers in Skåne have access to the new digital services “Better visits” (Sw: Bättre besök) and “Consultations Online” (Sw: Läkarbesök Online). Consultations Online give patients access to healthcare wherever they are and when the need occurs. The services will also be made available to patients at the now acquired primary care centers. When fully implemented, the online service will be available to all Swedish inhabitants.

Enterprise value is MSEK 88 and the acquisition is expected to be closed and included in Capio from April 2018. Novakliniken will be reported as part of the Nordic segment. The acquisition, which is subject to approval by Region Skåne and unconditioned approval from the Competition Authority, is not expected to significantly impact the Group’s earnings in 2018.