Terveystalo’s strategy
Our purpose, “More health for everyone – seamless, compassionate and effective”, guides everything we do.
Terveystalo’s strategy is built on a clear development agenda that strengthens our competitiveness and creates value for our customers. We focus on technology-driven transformation, integrated care, and the commitment of our professionals – the cornerstones of our success. Our strategic initiatives aim to improve productivity, scale digital services, build new partnership models, and diversify our markets. These priorities ensure sustainable growth and deliver the best customer experience in the industry.
Our purpose, “More health for everyone – seamless, compassionate and effective.”, guides everything we do. It reflects our commitment to making healthcare accessible, affordable, and easy to use through technology-enabled efficiency. We place increasing emphasis on prevention and actively steer care pathways to improve health outcomes for all customer groups.
Integrated care and customer value are at the heart of our strategy. We develop digital solutions and services that fit into our customers’ everyday lives, making care seamless, compassionate, and effective. Our goal is to provide comprehensive health for all customers while managing care pathways in a cost-efficient and impactful way.
Engaged professionals are the foundation of our success. We are building a humane and functional working environment where our professionals can focus on meaningful tasks. Through our talent strategy, we aim to ensure engagement, job satisfaction, and productivity. Our ambition is to be the most attractive and best workplace in the industry.
Technology-led transformation is the cornerstone of digital healthcare development. Our goal is to achieve up to a tenfold increase in productivity by building a comprehensive digital ecosystem that streamlines care pathways, automates process steps, improves access, and enhances the quality of care. We are integrating digital-first models across our entire service portfolio to deliver seamless experiences for both customers and professionals.
We are building a modular, API-based platform that enables rapid adaptation and integration. In partnership with MedHelp, we are standardising and automating B2B processes – particularly in occupational health and preventive care – and deploying AI solutions to automate clinical and administrative tasks. A key initiative is the development of the Ella patient information system, designed to significantly improve workflow in both digital and physical consultations. In addition, AI-powered health assistants and automation of routine tasks in chat and remote services will deliver substantial efficiency gains.
Renewing the Healthcare Services business model strengthens future value creation. In a changing market environment, we must continuously improve the value and accessibility of our services for corporate, insurance, and consumers.
In occupational health, we have launched a two-year development programme to redesign service models, improve pricing transparency, and optimise production through digital tools – all aimed at enhancing competitiveness and customer value. The programme reinforces Terveystalo’s position as a trusted partner in working life and a pioneer in sustainable healthcare.
We are broadening access to primary care by participating in the freedom-of-choice pilot for customers aged 65 and over, strengthening our role in prevention and public-private collaboration.
Market diversification to support growth includes expanding our dental business, developing new partnership models with public and private sectors, and strengthening our position in Sweden through operational improvements and selective earnings-accretive acquisitions.
Profitable growth:
- EPS to grow on average by 10 percent p.a.
Moderate leverage ratio:
- Net debt to EBITDA not to exceed 2.5x
- Indebtedness may temporarily surpass the target level, particularly in conjunction with acquisitions.
Attractive dividends:
- At least 80 percent of the net result is to be distributed as dividends
- The dividend proposal must consider the company's long-term potential and financial status.
In 2025, Terveystalo had several ongoing profitability improvement programmes as well as a development programme, all aiming to strengthen operational efficiency and the company’s competitiveness, and to support profitable growth in a changing market environment. During 2025, market conditions required faster and more wide‑ranging actions across several business areas than in a typical year, which was reflected particularly in the amount of items affecting comparability in the fourth quarter.
The occupational healthcare development programme, launched in 2025, focuses on renewing service models, improving pricing transparency and utilising digital tools to optimise production. The objective is to strengthen competitiveness and customer value over the long term.
The profitability improvement programme launched in late 2023 in Sweden was completed at the end of 2025. The programme achieved its objectives and resulted in significant structural improvements in profitability. Measures included, among others, the reduction of administrative tasks, streamlining of processes, improved utilisation rates and a renewal of the organisational structure, all of which together provide a strong foundation for future growth.
In the Portfolio Businesses, a profitability improvement programme is under way. It focuses on improving operational efficiency and strengthening capabilities to respond to a rapidly changing market. In addition, the aim is to accelerate growth in consumer businesses – in particular dental care and massage services – and to clarify the service offering for the public sector.
Costs related to the profitability improvement programmes and the development programme amounted to EUR 5.9 (7.3) million in the fourth quarter and EUR 12.1 (18.6) million for the full year 2025. The costs consisted mainly of restructuring expenses and advisory fees, the latter of which are linked to the results achieved through the programmes. These costs are treated as items affecting comparability. In 2024, programme‑related costs amounted to EUR 18.1 million. In 2026, total programme‑related costs are estimated to amount to approximately EUR 7.0 million.
Starting from 1 January 2023, Terveystalo Group comprises three reporting segments: Healthcare Services, Portfolio Businesses, and Sweden.
Healthcare Services
Healthcare Services – the business segment offers customers in Finland integrated care paths, ranging from preventive occupational health services to primary care, and various fields of specialised care, diagnostics, and day surgery. In Healthcare Services, the goal is to be the best provider of integrated care and to grow profitably.
Portfolio Businesses
The Portfolio Businesses segment consists of business areas that aim for independent value creation utilising Terveystalo’s capabilities according to their needs. The Portfolio Businesses segment includes publicly funded services, such as outsourcing and staffing services, as well as consumer services, including dental care and massage.
Sweden
The Sweden segment consists of Feelgood subsidiaries’ operations in Sweden, which are focused on occupational health and consultation for organizational management and harmful use. Terveystalo aims to significantly improve profitability in Sweden in the short term.