The Finnish Competition and Consumer Authority (FCCA) approved Terveystalo Healthcare Oy's acquisition of Hohde Group Oy on September 3, 2026, but with specific conditions. This marks the first conditional approval during a Phase I investigation since the Competition Act was enacted in 2011.

The FCCA's review focused on the impact of the acquisition on competition within the private dental care market, where both companies operate. Terveystalo and Hohde provide a variety of dental services, including general and specialist care, as well as aesthetic dentistry. Hohde also offers dental laboratory services through Loisto Laboratoriot Oy.

The FCCA identified potential competition issues in Savonlinna, Mikkeli, and Seinäjoki, where the merger would significantly increase market concentration, positioning Terveystalo as the dominant player. However, no concerns were found in other markets.

To mitigate these concerns, Terveystalo agreed to divest its dental care businesses in the affected areas to a new operator, Emal Hammaslääkärit Oy. This divestment is part of a 'fix-it-first' remedy, allowing the FCCA to approve the buyer during its investigation.

The FCCA deemed these commitments adequate to preserve a competitive market structure. Historically, the FCCA has issued conditional merger decisions only after in-depth Phase II investigations, making this case notable for its expedited resolution.

The decision includes confidential business information, which will be published once the sensitive details are removed.