3i, the leading private equity and venture capital company in Europe has signed an agreement to acquire Carema Vard och Omsorg AB, a leading Nordic healthcare services company providing elderly, primary and specialist care as well as nursing homes and care for disabled. 3i is buying the company from 65 institutions and private individuals, of which Norwegian Orkla is the largest. Carema's turnover in 2004 was €270m.

Carema was founded in 1996 and is a sector leader with 4,500 staff. The company has approximately 60 units throughout Sweden as well as some operations in Norway and Finland.

"Carema is an interesting company with a strong market position. It has a great potential to secure further growth with its competent management team and experienced staff", said Gustav Bard, Managing Director for 3i Nordic.

"We are delighted to have 3i as Carema''s new owner. I am convinced that 3i''s track record and international experience in the healthcare services sector will greatly benefit Carema''s further development. Backed by 3i, we will continue developing the healthcare services in Sweden and the rest of Scandinavia", commented Ralph Riber, Managing Director for Carema.

"Carema has been ranked as a top company in the number of surveys whether in the perspective of range of services, quality of care or management. We believe that the company will further strengthen its position in the future", said Tomas Ekman, Investment Director for 3i Nordic.

3i has a long experience in the healthcare services sector. Examples of earlier investments are Westminster Healthcare and Care Principles in the UK, Intercentros Ballesol in Spain and Suomen Terveystalo in Finland.

The acquisition is pending approval from the competition authorities.