Smile acquires Thea Tandhälsa

June 09, 2011

Smileco Group AB (“Smile“) acquires Thea Tandhälsa AB (“Thea“), a dental care chain with six clinics in Sweden. Thea has annual revenues of c. SEK 110 million and employs c. 150 people. By acquiring Thea Smile becomes Sweden’s largest private dental care chain with 15 clinics in 13 cities with estimated annual revenues of c. SEK 250 million.

Thea is one of Sweden's leading providers of dental care with clinics in Borås, Jönköping, Kumla, Linköping, Norrköping and Västerås. Thea offers all types of dental care, from repairing cavities to cosmetic treatments to dental surgery. The company was founded in 2006 and had revenues of SEK 110 million in 2010.

Smile's business idea is to create a nationwide network of dental care clinics with dedicated employees who through active learning and continuous improvements create better dental care. The company's clinics offer a full range of dental care services with high service content, based on the customer's individual needs. Smile currently employs over 120 people at 9 clinics in Helsingborg, Jönköping, Katrineholm, Malmö, Mariestad, Sundsvall, Vänersborg, Västerås and Älmhult. As of November 2011 Smile will also be present in Växjö. Smile was founded in 2006 and is owned by the three founders, the private equity fund Scope Growth II L.P. and a group of private investors.

"The Swedish dental market has changed considerably since the deregulation in 1999 but is still very fragmented. With the acquisition of Thea, we have taken an important step in the development and consolidation of the Swedish dental care market. Together we will become the largest private dental care chain in Sweden" says David Halldén, CEO of Smile.

"We look forward to integrate the resources and expertise that exists within Thea and to
continue developing Thea's clinics within the Smile group. Both Smile and Thea focus on combining excellence in dentistry with a developed service offering" continues David Halldén.

For more information, please contact:
David Halldén, CEO Smile, tel: +46(0)70-844 19 98, e-mail: david.hallden@smile.se

For additional information about Thea Tandhälsa please visit www.theatandhalsa.se
For additional information about Smile please visit www.smile.se