Topdanmark Forsikring A/S køber Oona Health A/S (1 MB)
Acquisition of Oona Health A/S
Market leading (#1) health insurance provider in
Oona Health is a specialised Danish1 health insurance group with a market share of ~16% in 2021 within private health insurance products- Through its subsidiary, the insurance companyDansk Sundhedssikring, the group provides health insurance to 530k individuals, primarily through customer relationships with 15k companies
- Distributed via brokers, pension companies and directly,
Oona Health offers health insurance to companies and their employees - The group's core offering includes i)Primacare - a high quality health service and network provider with +800 clinics in the network, and ii) FIDIMI - a digital-based health platform helping individuals and companies prevent serious health risks
- Since inception,
Oona Health has been on a continued growth journey with strong double digit premium growth (CAGR of 24% in the last 3 years) Oona Health is headquartered in Herlev,Denmark and employs a total of 211 FTEs
Note: 1)
Transaction details
Transaction value
- Purchase price of
DKK 2.25bn
Transaction perimeter
Oona Health Group (including holding companies and subsidiaries)- Sellers include
AnaCap Financial Partners and a number of minority shareholders
Closing of the transaction
- Expected closing of the transaction in the second half of 2023
- Conditions precedent to closing includes approval from the Danish FSA, the Competition Authorities and the
Danish Business Authority
Financing of the transaction
- The transaction will be financed by available excess capital
- As a consequence of the transaction, the proposed dividend for 2022 will be reduced to
DKK 31 per share
Purchase
price of DKK
2.25bn
Expected closing in second half of 2023
3
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+10% higher |
Positive |
Positive |
Marginal |
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impact on |
impact on |
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operating |
impact on |
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premium |
combined |
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EPS1 |
SCR |
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growth |
ratio |
Financial impact on Group KPIs (2024E)
Strong synergy potential in the transaction, primarily driven by top-line synergies (with limited expected cost synergies)
Assuming closing as at
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Notes 1) Operating Earnings Per share : EPS adjusted for amortisation of intangible assets related to brands and customer relations and excluding intergration and transaction cost |
4 |
Transaction perimeter
5
Attachments
Disclaimer


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