Legal Alert – The Finnish Merger Regime to Undergo Changes in the Autumn
On 15 June 2017, the Finnish Government issued a bill to amend the current Finnish Competition Act. The government bill contains a legislative proposal that would affect the Finnish Competition Act in the field of social welfare and health care. A merger control is proposed to apply temporarily to practically all social welfare and health care related corporate transactions in Finland. The amendment to the Competition Act is intended to enter into force without delay and would remain valid until 31 December 2018.
The government bill proposes that a new section be added to the Finnish Competition Act, under which the Finnish merger control will apply to all social welfare and health care related corporate transactions where at least one of the parties provides social welfare and health care services or imaging or laboratory services in Finland. However, the new section will not be applied to corporate transactions where
- all of the parties are self-employed persons;
- all of the parties operate under the same private clinic or under the same company or group of companies operating in the field of social welfare and health care;
- there are two parties to the transaction, and one of the parties is a company that sells the services of at most five doctors or other professionals in the field of social welfare and health care;
- the target of the acquisition, the merging company or foundation, or the established joint venture is not operating in the field of social welfare and health care or does not provide imaging or laboratory services in Finland.
The Finnish Competition and Consumer Authority’s time limit for processing the notifications is proposed to be extended from one month to 45 business days in social welfare and health care transactions only.
The amendment is proposed to come into force as soon as possible in the autumn of 2017. Borenius will organise a seminar about the proposed changes on 5 September 2017. If you are interested in attending, please contact us.
Borenius’ lawyers are available to assist in addressing any questions you may have regarding this client alert. Please feel free to contact any of the Borenius attorneys listed in this alert or those with whom you usually work.