News - 20.10.2011

Helse Holding AS has entered into an agreement to acquire Friskhuset

(Oslo, 24 October 2011) Helse Holding AS has entered into an agreement to acquire Friskhuset AS, a leading health service provider in Northern Norway, focusing on training. Helse Holding AS is owned by Herkules Private Equity Fund III, and the company also owns Hjelp24 AS. Together with Hjelp24, Friskhuset will become part of a national platform for private health services.

Friskhuset has a broad offer within training, occupational health services, physiotherapy, and nutrition consulting. The Friskhuset chain comprises of 29 fitness centres in Northern Norway (including 2 franchise centres) with approximately 35,000 members, and 280 corporate customers within the occupational health service segment. In addition, approximately 30 physiotherapists are connected to the chain. Helse Holding AS will acquire 100% of the shares of Friskhuset, and the CEO and key personnel in Friskhuset will reinvest in Helse Holding. On a pro forma basis, Helse Holding will have total revenues of approximately NOK 750 million in 2011.

Going forward, Herkules expect strong growth in the market for private occupational health services, preventive and general treatments, and rehabilitation services. Health-related training supplements Hjelp24’s offering to enterprises, and the companies will together have a unique national platform. Based on its long expertise, Hjelp24 will together with Friskhuset be able to provide tailored services for corporate customers that seek a general offer to their employees. The services will cover the whole chain from preventive treatments and risk assessments, to rehabilitation and “return to work” services, where training is an important part of the offering. “We are very pleased with the acquisition of Hjelp24 and Friskhuset, and we wish to contribute to build a leading specialist environment for private health services to enterprises in Norway” says Rikke T. Reinemo, Partner at Herkules Capital.
Rikke T. Reinemo, Partner at Herkules Capital
Telephone: +47 22 04 80 00

Hjelp24 is the largest and leading player within corporate healthcare in Norway, with 40 offices across the country. The business has strong brand names, such as Hjelp24 and NIMI, and provides products to a diversified customer portfolio consisting of private customers and private and public enterprises. Hjelp24 covers the whole chain from prevention and risk assessment to rehabilitation and “return to work” services. The company is organized in four service areas; corporate health care services, private hospitals, emergency alarms and consulting. You can find further information on

Friskhuset is the largest fitness chain based in Northern Norway and offers a broad spectre of services within training, occupational health services and nutrition. The chain has 29 centres and has approximately 35,000 members. More information about Friskhuset can be found at:

Herkules consists of three funds, with a total capital base of NOK 12.25 billion in committed capital from Norwegian and international investors. Herkules has the financial strength to acquire majority ownership positions in established companies with growth potential. Companies owned by Herkules funds are: Pronova BioPharma, Noratel, European House of Beds, Beerenberg Corp., Micro Matic Norge, Tilbords, Hatteland Display, EFG European Furniture Group, Aibel, Nevion, Estrella Maarud, Gothia Financial Group, Projectiondesign, Bandak, New Store Europe, Elis, ODLO, Intelecom, Norsk Jernbanedrift and Hjelp24.