Bridgepoint hires Morgan Stanley to review Terveystalo options

STOCKHOLM, March 7 Thu Mar 7, 2013 12:24pm EST

STOCKHOLM, March 7 (Reuters) - Private equity firm Bridgepoint has hired Morgan Stanley to review its options for healthcare service provider Terveystalo, Bridgepoint Partner James Murray said on Thursday.

Terveystalo is Finland's largest healthcare services company, employs 6,500 people and had 2011 sales of 366 million euros ($479 million), according to the company's website.

Bridgepoint declined to comment on whether the options Morgan Stanley will look at would include a sale and would not comment on Terveystalo's potential value. London-based Bridgepoint bought Terveystalo in 2009 for 308 million euros.

M&A advisers, who declined to be identified because they were not authorized to speak publicly, said Terveystalo could fetch around ten times earnings before interest, tax, depreciation and amortisation (EBITDA). One of the advisers said Terveystalo's EBITDA earnings were expected to be above 60 million euros in 2013.

($1 = 0.7644 euros) (Reporting by Sven Nordenstam;Editing by Elaine Hardcastle)