Alder & Sound was a provider of financial and tax due diligence for Pihlajalinna Plc and its subsidiary Pihlajalinna Terveys Oy in the acquisition of Doctagon Oy. The M&A transaction will be realised through the issuance of Pihlajalinna’s new shares directed to Doctagon Ab’s owners.
In the directed share issue, the entire Doctagon Ab’s transaction price EUR 30,105,000 is paid with Pihlajalinna Plc’s shares. Doctagon is a Finnish healthcare service company that is growing strongly. Doctagon offers doctoral services for personal customers, occupational health services, personnel services as well as doctoral and consultation services for the public sector. Doctagon has strongly invested in digital services. It has two private clinics, in Helsinki and Turku.
The revenue of the acquired business for the financial year that ended on 30 September 2017 was EUR 17.2 million (EUR 14.4 million in the previous financial year), EBITDA EUR 0.4 (0.1) million and operating profit EUR 0.3 (0.0) million. During the current financial year, Doctagon’s revenue and profitability have improved substantially from the previous financial year. The transaction has no impact on Pihlajalinna’s outlook for 2018 published in the financial statements release for 2017.
For more information: Pihlajalinna Plc acquires Doctagon Ab through a directed share issue
A&S due diligence team involved:
Toni Turunen | Partner, Financial Advisory Services
Matti Kaloinen | Senior Associate, Financial Advisory Services
Antti Sauramo | Senior Associate, Financial Advisory Services
Tiina Piitulainen | Associate, Financial Advisory Services
Suvi Vänskä | Partner, Head of Tax Services
Henri Lyyski | Associate, Tax Services
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