Mehiläinen, Finland’s leading healthcare and social care provider, is significantly expanding its footprint in Southeast Europe through the strategic acquisitions of Regina Maria in Romania and MediGroup in Serbia. These acquisitions mark a major step in Mehiläinen’s international growth strategy, solidifying its presence in the region’s rapidly developing healthcare markets.
Regina Maria, a prominent private healthcare company in Romania, boasts 11,000 professionals and 300 units, serving over 2 million customers annually. MediGroup, its sister company in Serbia, is the leading private healthcare provider in its market, with 100 units and over 2,500 employees. The combined revenue of these companies reached approximately 550 million euros in 2024. Both companies are recognized for their commitment to medical excellence and patient safety, with Regina Maria holding the prestigious Joint Commission International (JCI) accreditation.
New Investment Partnership for Accelerated Growth
In conjunction with these acquisitions, Hellman & Friedman (H&F), a global private equity firm with extensive healthcare sector experience, joins CVC Funds as a new investor in Mehiläinen. CVC, which initially invested in Mehiläinen in 2018, will continue its partnership, providing significant support for the company’s ambitious growth plans. This new investment partnership will accelerate Mehiläinen’s expansion, both domestically in Finland and internationally, through strategic acquisitions, service expansion, and the enhancement of customer experience. It will also bolster the international growth of Mehiläinen’s digital healthcare software, BeeHealthy.
Leadership and Vision for Future Expansion
Janne-Olli Järvenpää, CEO of Mehiläinen, expressed enthusiasm for the acquisitions and the new investment partnership, highlighting Regina Maria’s exceptional growth and quality, and MediGroup’s leading market position. Fady Chreih, CEO of Regina Maria and Chair of the Board of MediGroup, emphasized the significance of Mehiläinen’s investment, reflecting confidence in the region’s economic development and marking a new chapter for the networks.
Investor Confidence and Support
CVC and H&F both voiced strong support for Mehiläinen’s management and growth strategy. CVC highlighted Mehiläinen’s leadership in digitally-enabled multi-specialty outpatient care, while H&F praised the company’s history of excellence and integrated healthcare model. The continued leadership of Regina Maria’s CEO, Fady Chreih, and his management team ensures continuity and stability during this expansion.
Strong Financial Performance Underscores Growth Strategy
Mehiläinen’s revenue for 2024 increased by 11.5% from the previous year to EUR 2,063.5 million (up from EUR 1,850.2 million). Underlying operating profit (EBITA) before depreciation of acquisition-related intangible assets and exceptional items rose to EUR 289.1 million from EUR 215.7 million. The financial result for the year was EUR 39.2 million, approximately 1.9% of revenue. Investments in facilities, digital development, medical devices, and other fixed assets rose by 70.5% to EUR 69.8 million, while total investments, including acquisitions, more than doubled to EUR 192.3 million. Mehiläinen’s tax footprint increased to EUR 446.9 million, with corporate income taxes reaching EUR 33.1 million, reflecting the company’s growing contribution to public finances.
Mehiläinen’s Expanding Presence and Expertise
Mehiläinen, with its 115-year history, serves 2.2 million customers annually across 890 locations, employing over 37,000 professionals. Regina Maria and MediGroup are leaders in their respective markets, with Regina Maria excelling in medical quality and digitalization, and MediGroup providing comprehensive healthcare services across Serbia. The addition of H&F alongside CVC and other key investors, including Finnish pension funds, positions Mehiläinen for sustained growth and innovation in the European healthcare sector.
Mehiläinen Group at a Glance
Year founded: 1909 Headquarters: Helsinki, Finland Employees: 37,000 staff and private practitioners Revenue: €2.0635 billion in 2024
