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KKR joins Triton in Ambea investment

Kohlberg Kravis Roberts has joined Triton in its investment in Ambea, a healthcare and care company in the Nordic region and one of the largest European healthcare service providers.

KKR’s investment is in the form of convertible preferred stock.

Subject to certain regulatory approval, KKR has the option to become a joint equity lead investor on a 50-50 basis with Triton and in partnership with Ambea management.

Triton signed a definitive agreement to acquire Ambea on 23 February 2010. The transaction with Triton and KKR closed on 31 March 2010.

Ralph Riber, chief executive of Ambea, says: "We are pleased to be entering an exciting new phase of development with our partners, Triton and KKR. I know that both partners share our view of how to build a leading healthcare and care company with strong focus on quality. Both partners bring a strong operational focus and with Triton’s local Nordic presence and experience coupled with KKR’s deep healthcare expertise, I am convinced that this partnership will provide Ambea with a strong support to fulfill its mission of providing the best levels of healthcare and care service.”

Ambea operates under brands including Carema in Sweden, where it is a provider of primary healthcare, hospital care, specialist care clinics, and elderly care. In Finland, Ambea operates under the Mehiläinen brand and is a provider of hospital care, outpatient clinics, and occupational healthcare services. The group employs approximately 10,300 employees and has about 600 healthcare and care units.

Dominic Murphy (pictured), KKR member and head of the KKR healthcare team in Europe, says: “KKR is delighted to be partnering with Triton and Ambea. KKR has great respect for Ambea’s mission – Time to Care. As a long-term investor we look forward to working closely with Triton and management to further strengthen Ambea’s position as the leading player in its field.”

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