Terveystalo's addressable markets

Terveystalo's addressable market in Finland

In Finland, the market of health care is estimated at around EUR 15.8 billion. About 72 percent is publicly funded and provided. Privately provided health care accounts for 28 percent corresponding to EUR 4.5 billion, which includes publicly funded and privately provided and privately provided and funded health care. The privately provided market relevant to Terveystalo includes primary health care, dental care, specialty care, occupational health care and child welfare services. Terveystalo's share of this entire market is about 25–30 percent. The privately provided market is expected to grow by around 3–4% between 2022 and 2028. The rapid ageing of the population, the care debt accumulated during the pandemic and the challenges of public healthcare will increase the need for privately provided care in the coming years.

Finland has a unique occupational health system that covers 1.9 million Finns. Occupational health is associated with a statutory pension system. The system encourages employers to invest in occupational health to bring down pension costs. This has effects on public health as well as the total cost of health care. Terveystalo provides occupational health services in Finland to over 27,000 companies and to a total of approximately 680,000 people through its corporate customers.

Terveystalo's addressable market in Sweden

In Sweden, the total cost of health care is estimated at around EUR 32.5 billion. About 82 percent is publicly funded and provided.  Privately provided health care accounts for around 17 percent or EUR 5.7 billion, which includes publicly funded and privately provided and privately provided and funded health care. In Sweden, the privately produced and financed market consists largely of oral health services that are not offered by the public sector for people over 23 years, as well as employer-financed occupational health care. The private healthcare market in Sweden is quite fragmented; the combined market share of the ten largest players is around 36 percent. Market growth has historically been faster than in the Finnish market.

The ageing of the population, lifestyle diseases, lengthened care queues in the public sector, growing awareness of health and well-being, and the increase in voluntary health insurance are driving the growth of the private healthcare market also in Sweden.

Terveystalo’s subsidiary Feelgood, which operates in Sweden, offers services in occupational health and, including; risk assessments, ergonomics and physiotherapy, organisation and leadership, and harmful use. In addition, the company provides private health care and well-being services to its occupational care customers´ employees and their families through the digital service Feelgood Plus.

The Swedish occupational health market is stable and has a size of around 0.6 billion euros. Feelgood is Sweden's third largest provider of occupational health services with a market share of around 19 percent. The Swedish occupational health system includes fewer services required by law than the Finnish system. Occupational health and private health services are also in different systems. However, employers are interested in offering more extensive occupational healthcare in order to reduce sick leave and extend working careers. Terveystalo's subsidiary Feelgood serves approximately 8,000 corporate customers in Sweden, with a total of approximately 1.1 million occupational health end-customers.