Mehiläinen is the largest healthcare and social care provider in Finland with a fast-growing international presence. As part of its international growth strategy, Mehiläinen has agreed to acquire leading healthcare providers Regina Maria in Romania and MediGroup in Serbia. In conjunction with these major acquisitions, Hellman & Friedman joins CVC in an investment partnership in Mehiläinen. The completion of the acquisitions and new Mehiläinen ownership arrangements is subject to regulatory and customary investor approvals.
Regina Maria is a leading private healthcare company in Romania, offering a wide range of multi-specialty outpatient healthcare services and hospital services. With its 11,000 professionals and 300 units, it serves over 2 million customers annually. Regina Maria's sister company MediGroup is a leading service provider in the private healthcare market in Serbia with 100 units and over 2,500 employees. The combined revenue of the companies amounted to circa 550 million euros in 2024. The seller in the transaction is the private equity firm MidEuropa.
Regina Maria and MediGroup are highly trusted private healthcare brands with a strong commitment to medical excellence and development of healthcare services. The service offerings and business approach of the companies are closely aligned with those of Mehiläinen, providing a strong basis for future partnership. Regina Maria holds the Joint Commission International (JCI) accreditation, which reflects their hospitals’ high-quality work by proving compliance with international standards for patient safety and care quality. Over the past 15 years, Regina Maria’s entrepreneurial management team has grown the company's revenue more than tenfold, with most of this growth occurring organically. After the acquisition, Regina Maria’s CEO Fady Chreih and his management team will continue in their current roles.
Alongside these exciting acquisitions Mehiläinen is also pleased to announce that Hellman & Friedman (“H&F”) will become a second major investor in Mehiläinen alongside CVC Funds, which first invested in Mehiläinen in 2018. H&F is a global private equity firm which has been investing in Europe for 25 years and has extensive experience in the healthcare sector.
New investors and funding will accelerate the execution of Mehiläinen’s growth strategy, which focuses on expanding both in Finland and in international markets through a combination of greenfield and service expansion, continuous enhancement of customer experience, and strategic acquisitions, all while keeping the highest standards of patient care and medical quality. The new investment will also support the ongoing international expansion of Mehiläinen's fast growing Software as a Service business, BeeHealthy, which is already present in over 10 different countries.
Janne-Olli Järvenpää, long-time CEO of Mehiläinen and board member, is pleased with the acquisitions and the owners’ commitment to steady growth: “Regina Maria is one of the fastest-growing and highest-quality healthcare service providers in Europe, led by some of the best professionals in the field. We have closely followed the company's development for years, and we are truly delighted with the opportunity to partner up with Regina Maria’s management following this acquisition. Regina Maria’s sister company MediGroup is also a leading player in its market with excellent quality. I am also delighted to welcome Hellman & Friedman, who brings significant global healthcare sector expertise, alongside CVC. Mehiläinen's revenue has grown more than fivefold over the last ten years. Private equity owners with a long-term value creation mindset play a key role in supporting Mehiläinen's leadership in international expansion and service development.”
"We are honored that the largest healthcare provider in Finland, with over a century of medical experience, recognizes the potential of the medical market in Romania and Serbia. This investment reflects Mehiläinen Group’s confidence in the economic development of the region and marks an extremely significant chapter in our network’s history. We are excited to step into this new stage, where we aim, together, to transform the European landscape of private healthcare, relying on strong management teams and an integrated vision. Together, we are moving towards a future of increasingly advanced, digitalized, and accessible healthcare, where patient safety and the quality of medical care remain paramount", said Fady Chreih, CEO of Regina Maria and Chair of the Board of MediGroup.
“Janne-Olli and the rest of the management team have done a tremendous job in transforming Mehiläinen over the past 10 years, all while maintaining their unique entrepreneurial spirit and customer focused culture that is essential to the company’s success”, said Søren Vestergaard-Poulsen, a Managing Partner at CVC. “Mehiläinen is in the forefront of healthcare services trends when it comes to delivery of digitally-enabled multi-specialty outpatient care, with a strong commitment to quality and continuum of care. We look forward to working with the Mehiläinen and Regina Maria management teams to drive Mehiläinen’s next phase of growth, and welcome H&F as our partner on this exciting journey”, added Lave Beck-Friis, Senior Managing Director at CVC.
“Mehiläinen has a long history of excellence in healthcare provision and the business has been going from strength to strength”, said Hunter Philbrick and Stefan Goetz, Partners at Hellman & Friedman. “Its integrated model is at the forefront of healthcare, delivering superior patient outcomes. We look forward to supporting Janne-Olli and the Mehiläinen team on their continued growth and expansion across Europe.”
Other significant direct owners of Mehiläinen beyond CVC and H&F include the company's management and key personnel, as well as large Finnish pension funds including e.g., Ilmarinen, Varma, and the State Pension Fund. Additionally, there are private investors and smaller institutional investors among the owners.