Long-established Finnish family business files for bankruptcy
A long-established Finnish family-owned hospital specializing in plastic surgery, Sairaala Siluetti, has filed for bankruptcy due to declining revenues and financial instability.
Sairaala Siluetti, a family-owned private hospital in Finland that specializes in plastic surgery, has filed for bankruptcy as disclosed by the insolvency register. The bankruptcy application was submitted to the Helsinki District Court, highlighting the financial struggles the hospital has faced in recent years. In 2024, the hospital reported a turnover of 1.2 million euros, a decline from 1.5 million euros in 2021, and its operating profit in 2023 saw a deficit of 347,000 euros.
The ownership of Sairaala Siluetti changed hands in January this year, with the stakes being transferred to companies KC Finance oy and Plastium oy. The company's announced goal behind the ownership transition was to bolster Sairaala Siluetti's leading position in the market and to develop its specialized services in a sustainable manner. However, despite the intentions to revitalize the hospital, the consistent drop in revenue suggests deeper financial issues that likely contributed to the bankruptcy filing.
Founded in Tampere in 1997 and moving to Helsinki in 1999, Sairaala Siluetti had aimed to provide quality healthcare services in the field of plastic surgery. The company's long-standing history and the recent bankruptcy highlights the challenges faced by private healthcare providers in maintaining financial stability amid changing market conditions. The news of the bankruptcy was first reported by Taloussanomat, prompting concerns about the future of similar family-owned businesses in the region.