Big developments for Finns in Sweden
Finnish technology, strategy and design company Solita is expanding to Gothenburg, while Swedish company Humana is acquiring Finnish care provider Coronaria Hoiva.
First to Solita’s expansion to Gothenburg in Sweden, where the Finnish digital transformation company will open a new office in February to meet customer demand and offer its services to the strong, local industrial cluster.
Solita started its operations in Sweden in 2017 in the capital Stockholm. The same year, it expanded to Estonia’s capital Tallinn and changed hands from Vaaka Partners to the Apax Digital Fund.
Then on to Coronaria Hoiva, which is reportedly being acquired by Sweden-based Humana for 71 million euros. Finnish private banking company Evli advised Humana on the deal for one of Finland’s largest private social care providers.
Coronaria Hoiva focuses on residential care services, and in 2018 it had adjusted net sales of 54 million euros and some 1 100 employees.
Humana first entered the Finnish market in 2016, when it acquired Finnish psychosocial care provider Arjessa, and further solidified its position in the country with the acquisition of Nordic Senior Services in 2017.
The Coronaria Hoiva acquisition is still subject to regulatory approval and is expected to be closed in the first or second quarter of 2019.