Hohde Group acquired by Terveystalo Healthcare
Context
Terveystalo signed an agreement to acquire Hohde Group, comprising Hammas Hohde Oy and Loisto Laboratoriot Oy, in a transaction financed through debt committed by Terveystalo's existing partner banks. The acquisition is subject to approval by the Finnish Competition and Consumer Authority. The transaction directly supports Terveystalo's stated strategic objective of doubling its oral health business and becoming one of Finland's leading oral health companies, as communicated at its 2024 Capital Markets Day. Significant value creation is expected through growth and cost synergies, anticipated to materialise primarily within 36 months of closing. The transaction is expected to be earnings per share accretive from the first full year following completion.
Hohde Group, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average observed in the Healthcare & Pharma sector (14.5x in 2025).
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Target
Hohde Group is one of Finland's fastest-growing and largest private providers of dental and dental laboratory services, operating a nationwide service network comprising 33 dental clinics and 14 dental laboratories across 24 locations throughout Finland. Hohde Group is structured around two complementary entities: Hammas Hohde Oy, the dental clinic operator, and Loisto Laboratoriot Oy, the dental laboratory division — the combination of which creates a vertically integrated oral health platform covering both clinical care delivery and laboratory services. The group is recognised as a high-quality service provider with strong customer and employee satisfaction ratings, and has demonstrated exceptional revenue growth significantly outpacing the Finnish dental market.
Ent. Value
€50–150M
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (EUR)
Similar deals in Health Providers
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 01/2026 | GTCR | DENTALCORP | CANADA | Dental Centers |
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| 11/2025 | METRIC CAPITAL PARTNERS | EXCELLENCE IMAGERIE | FRANCE | Radiology |
| 11/2025 | CIR - COMPAGNIE INDUSTRIALI RIUNITE | KOS GROUP | ITALY | Nursing Homes |
| 10/2025 | GROUPE RESONANCE IMAGERIE | CIMEP | FRANCE | Radiology |
| 07/2025 | COMPAGNIE NATIONALE A PORTEFEUILLE | EQUINE CARE GROUP | BELGIUM | Vet Clinics |
| 07/2025 | BRIDGEPOINT | MYDENTIST | UNITED KINGDOM | Dental Centers |
| 07/2025 | ARDIAN | DOVIDA | SWITZERLAND | Outpatient Care |
| 05/2025 | FONDATION SANTE SERVICE | CLARIANE HAD (HOME HOSPITALIZATION SERVICES) | FRANCE | Outpatient Care |
| 04/2025 | EUROFINS SCIENTIFIC | SYNLAB SPAIN | SPAIN | Labs (Biology) |
REFERENCES
Valuation range: EV €50–150M
Revenue range: €50–100M
EBITDA range: €5–25M
EV/Revenue range: 1x - 3x
EV/EBITDA range: 10x - 18x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Hohde Group by Terveystalo Healthcare are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
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