On Friday, Südamekodud announced that they are selling their care services business to the Central European healthcare group Penta Hospitals International. However, the real estate will remain with the current Estonian owners.
Martin Kukk, Chairman of the Board of Südamekodud, said that the company plans to expand into Latvia and Lithuania. For this, capital and a strategic partner are needed. Nothing will change for Estonian clients – contracts and prices will remain the same.
Südamekodud has already done preliminary work for the Latvian and Lithuanian markets. According to Kukk, their demographic situation is similar to Estonia's, but care services there are less developed.
Sven Papp, a sworn advocate, said that this is an important transaction in Estonia. According to him, it is not uncommon for a business to be sold while the real estate remains with the current owner.
In Estonia, there are 180 providers of 24-hour care services. Sõmer-Kull from the Ministry of Social Affairs said it is important that care homes meet requirements and have an operating license.
Sõmer-Kull added that Penta Hospitals' review process is ongoing. In Estonia, the number of people in need of care services is growing as the number of people aged 65 and older increases.
The Ministry of Social Affairs is investing 16 million euros in assistive technologies. These can help reduce the need for care homes.
Südamekodud plans to expand in Estonia, for example towards Pärnu and Narva. Martin Kukk said that the care market in Estonia is not endless, but the infrastructure is often outdated.
Penta Hospitals International is a major healthcare provider in Central Europe. They have hospitals, outpatient centers, and senior homes in Slovakia, Czechia, and Poland.