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 in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (15.3x).
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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.
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REFERENCES
Valuation range: EV 50M - 150M EUR
Revenue range: 50M - 100M EUR
EBITDA range: 5M - 25M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.