A strong position in private healthcare boosts growth

The year 2017 was remarkable for us at Terveystalo: Terveystalo was listed on the main list of the Helsinki Stock Exchange, and Diacor and Porin Laakaritalo were incorporated as part of Terveystalo. At the same time, we continued our systematic work to enhance our business and clinical quality.

Terveystalon toimitusjohtaja Yrjö Närhinen

Every year, Terveystalo attends to over five million patients, and every single one of these encounters is important for us and the patient alike. We want to make sure that healthcare services are available to everyone in Finland, either physically or, in the future and as applicable, digitally. In addition, we want our customers to feel that they always get value for their money in terms of the availability, quality, and effectiveness of the services. Our objective is to be a long-term partner to our customer. A partner that not only treats illnesses but, increasingly, helps to prevent illnesses and to promote health and wellbeing. Terveystalo’s occupational healthcare services are a pioneer example of preventive healthcare.

We promote the health of Finns

Terveystalo’s services cover the entire country, constituting a significant contributor to the national economy. Keeping Finns fit for work ensures the competitiveness of companies, as well as society’s ability to secure basic services for the rest of the population, such as children and the elderly. We want to actively challenge and develop Finnish healthcare services – its comparability, transparency, and quality – and promote a customer-oriented approach in the healthcare sector.

Terveystalo’s IPO in October 2017 was the largest IPO in the Nordic countries in 2017. It was great to see how much interest the IPO attracted, both in Finland and internationally. Terveystalo’s IPO was multiple times oversubscribed, and it received strong support from Finnish and international institutional investors and 12,000 new private investors. After the IPO, ownership of Terveystalo is strongly Finnish, which we are particularly proud of. In January 2018, Terveystalo was awarded the Key Flag symbol in recognition of domestic service production and employment effect in Finland. The IPO means also increased transparency of reporting in the company. In April 2018, Terveystalo will publish a Quality and Corporate Responsibility Book in continuation to the Quality Book published last year. In this book, we will describe Terveystalo’s corporate responsibility work and quality development in more detail, using real-life examples.

The healthcare revolution

Today, the healthcare industry is progressing by leaps and bounds. Digitalization, globalization, and the transition seen in work and consumer behavior are also visible in healthcare. The ageing of the population, the sustainability deficit, the dependency ratio, and major public health problems increase demand for high-quality healthcare services. At the same time, the intensifying competition speeds up the revolution in the sector through means such as new innovations. The objective of the social and health service reform has been to reduce differences in wellbeing and health between people, improve equal availability of services and restrain costs. In this area, too, steps were taken in the right direction.

In this operating environment, Terveystalo must be able to respond to the challenges presented to it. Reform of healthcare services requires an open-minded attitude to challenging both ourselves and the processes. Development of online services and the quality of treatment are good examples of our systematic customer-oriented and quality-focused work. As proof of this, our Oma Terveys service had over 658,000 users at the end of 2017, and nearly 321,000 customers had downloaded the mobile application. We want to create value for our customers and society, value that is not created solely by carrying out discussions on structures. It is created by developing the ways we operate, and we want to be forerunners in this.

Finally, I would like to thank the entire Terveystalo personnel for the great year 2017. I am very proud that we successfully finished demanding projects, such as the acquisitions and the IPO, while increasing our market share. Yet, everything we do is based on genuine encounters with people every day. An open and curious mind is an important element of our culture; the ability to change and evolve is our strength. It is good to continue from here.

Yrjö Närhinen
Chief Executive Officer

Annual Review 2017