Carema

3i and funds invested €70 million in the buyout of Carema Vård och Omsorg AB, a leading Nordic healthcare services company in July 2005. Carema provides primary, specialist, disabled and elderly care as well as staffing and, from its formation in 1996, grew to a €300 million business in 2005.

Ageing populations and rising patient expectations, combined with technological advances and pressures on government funding, are creating opportunities for private entrepreneurs to work in partnership with governments to deliver capacity, efficiency and high-quality care.

The Carema investment case was to back a highly responsible, growth-oriented team in a growing market.

3i's in-depth experience and track record in the healthcare sector was not only convincing to management but has been key in adding value post investment. 3i previously backed Westminster Health Care, one of the largest UK high-quality care home operators.

Carema has recently strengthened its position further with two acquisitions. Medihem, a high-quality nursing home operator in the Stockholm area, was acquired in December 2005.

In March 2006, with 3i's support, Carema acquired Finland's largest private healthcare provider, Mehiläinen. Together the two companies, which continue to operate under separate brands, will create one of the largest community healthcare entities in Europe with combined revenue of around €490 million.