Attendo comments on Finnish proposal for temporary legislation regarding combination contracts

Regulatory News:

Attendo (STO:ATT):

As part of the upcoming social and health care reform (SOTE) in Finland, a working group under the Finnish Government has today announced its intention to present a proposal for temporary legislation. The proposal aims to limit the ability of municipalities to sign so-called combination contracts where all municipal social care and healthcare is outsourced to a private provider over a specific period. The purpose of the proposal is to prevent municipalities from entering into combined contracts that is assumed to interfere with the implementation of the SOTE reform, scheduled for January 1, 2019.

At present, Attendo has five combination contracts with Finnish municipalities. These contracts are not affected by the new legislation.

The main part of Attendo's operations in Finland, such as own nursing homes in elderly care, medical staffing, medical contracts and dental, are not affected by the proposal. In all, outsourcing represent a third of Attendo Group sales, where combination contracts represents a smaller part. Although some details remain to be revealed, the proposal is expected to have a marginal impact on Attendo Finland if implemented.

Attendo AB

(publ)

Attendo - the leading care and healthcare company in the Nordics

Attendo is the leading private provider of publicly financed care and healthcare services in the Nordic region. The company was founded in 1985 and was first to provide outsourced care for older people in Sweden. In addition to care for older people, Attendo provides care for people with disabilities, individuals and families, and, in Finland, healthcare and dental care. Attendo has 18 000 employees and is locally anchored with 490 operations in more than 200 municipalities in Sweden, Finland, Norway and Denmark. www.attendo.com

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