Herkules Private Equity Fund III has entered into an agreement to acquire the shares of Hjelp24 AS, the leading Norwegian corporate healthcare provider.
Hjelp24 is the largest occupational health service provider in Norway with a market share of approximately 20 percent. Furthermore, the company is leading within muscular and skeletal disorders and lifestyle related diseases with a strong brand and unique competence through the private hospital Hjelp24 NIMI. In 2010 Hjelp24's turnover reached NOK 545 million, and the company has approximately 700 employees. "We consider Hjelp24 to be the most attractive private healthcare company in Norway with a strong market position within attractive segments with substantial growth potential. Hjelp24's diversified customer base and highly competent organization is an excellent platform for further growth. We are confident that Hjelp24 through its leading position will take active part in further developing the private healthcare market in the coming years", says Rikke Tobiasson Reinemo, Partner at Herkules Capital.
Herkules acquires 100% of the shares in Hjelp24 from Gjensidige's wholly owned subsidiary Glitne Invest AS.
Lise Wesly, Managing Director at Hjelp24, adds: "We are pleased with having Herkules as new owners. With a dedicated, financially strong owner and a competent organization we have the necessary resources to succeed with our ambitious growth targets."