Carnegie acted as exclusive financial adviser to Topdanmark in the acquisition of Oona Health, owned by AnaCap Financial Partners and several minority investors, for a purchase price of DKK 2.25bn.
Oona Health is a specialised Danish health insurance company and is the largest provider (#1) of healthcare insurance in Denmark. Through its brand Dansk Sundhedssikring, the company provides health insurance to 530,000 individuals, primarily through its 15,000 commercial customers.
Topdanmark is a focused non-life insurance company aiming to create profitable growth in its core business. Health solutions are core products on the non-life insurance market, and the acquisition of Oona Health is an important investment in delivering the best products and services to Topdanmark’s customers. At the same time, Topdanmark secures a strong position in a fast-growing market with high customer loyalty.
Oona Health will continue as a separate legal entity post completion of the acquisition with senior management members and other key employees as minority shareholders (2-3% of Oona Health).
The transaction is subject to approval from relevant authorities.
This marks the second Topdanmark M&A transaction with Carnegie as adviser within the last twelve months.
About Oona Health:
Oona Health is a specialised Danish health insurance company and comprises, among others, Dansk Sundhedssikring A/S which is market leading (#1) and focused on sales and administration of health. Since 2012, Oona Health has offered health insurance to companies and their employees distributed via brokers, pension companies and directly. The company is headquartered in Herlev, Denmark and employs a total of ~200 FTEs.
Topdanmark is Denmark’s third largest non-life insurance company with a market share of around 16%. Topdanmark is listed on Nasdaq Copenhagen with a market capitalisation in excess of DKK 30 billion. The largest shareholder in Topdanmark is Sampo plc (48.5%).