The chain of medical clinics InMedica, an investment of INVL Baltic Sea Growth Fund, has acquired Hair Clinic – a medical clinic focused on hair transplantation and hair loss treatment. According to InMedica’s representatives, this investment represents a growing demand for such services. Additions of new locations and team members are in the works.
“This investment represents a trend in the market, where we clearly see a growing demand for hair transplantation. Men with hair loss problems used to be ashamed of such treatments, but Hair Clinic services are gradually becoming more common in helping them avoid major discomfort. We believe in the Hair Clinic business and its abilities to offer the maximum level of service, which is provided by a team of professionals with international experience using modern technologies,” says Kęstutis Broniukaitis, CEO of InMedica.
Patients at Hair Clinic can receive hair transplantation and other hair loss treatment procedures. According to Mr. Broniukaitis, InMedica’s CEO, given Hair Clinic’s relatively strong brand positioning, the clinic will maintain operations and continue the development of its own brand.
InMedica acquired 100% of Hair Clinic’s shares from two shareholders – Vytenis Škarnulis and Vytautas Dockus – both of whom will remain with the Company.
“We are pleased with the closed transaction and the opportunity to continue contributing to the company’s growth. We hope that, together with InMedica, we will be able to execute the clinic’s development strategy of adding new locations in other Lithuanian cities and be even more efficient in providing high quality services, which are becoming more relevant not only for men, but also for women, who require treatment for hair thinning, eyebrow transplantation and other suitable procedures,” says Mr. Škarnulis.
Vilnius-based Hair Clinic was founded in 2019 and generated turnover of €326 thousand in 2020. At present, the company employs 18 people.
About InMedica
The network of medical clinics InMedica provides diagnostics, outpatient treatment, surgery, dentistry and other medical services. InMedica Group consists of 19 family medicine centres, 4 broad-profile,1 specialized cardiology clinic, 2 walk-in clinics and 3 laboratories. In 2019 a modern day-surgery centre started its activities in the Santariškės medical town.
In 2020 InMedica Group had more than 750 employees and provided healthcare services to more than 90,000 registered patients. In 2020 the Group received revenue of EUR 12.7 million. Since February 2019, 70% of the shares of InMedica are owned by INVL Baltic Sea Growth Fund, the largest private equity investment fund in the Baltic States, through its subsidiary BSGF Sanus.
About INVL Baltic Sea Growth Fund
INVL Baltic Sea Growth Fund with its total size of €165m is the largest private equity fund in the Baltics with the European Investment Fund (EIF) acting as its anchor investor. The EIF, which is a part of the European Investment Bank, has committed €30m with the support of the European Fund for Strategic Investments, a key element of the Investment Plan for Europe (or the ‘Junker Plan’), as well as allocating resources from the Baltic Innovation Fund, the “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia. This aims to increase capital investment in high growth potential small and medium-sized enterprises in the Baltic States.
The Fund seeks to assemble a diversified portfolio of companies, targeting majority or significant minority stake deals and writing tickets of €10m to €30m, that showcase high growth potential and the ability to compete on a truly global basis. The Fund is focused on the Baltic States and the neighbouring regions of Poland, Scandinavia and Central Europe specifically. The Fund so far has invested in four companies within the healthcare, civil engineering and environment management (plastic recycling and waste management) sectors respectively.
The Fund is managed by one of Lithuania’s leading asset management companies INVL Asset Management, which is part of the Invalda INVL group. The group’s companies manage pension and mutual funds, alternative investments, individual portfolios, private equity assets, and other financial instruments. Over 200,000 clients in Lithuania and Latvia and international investors at the end of 2019 have entrusted the group with more than €1.2bn of assets under management. Active since 1991 and with a solid track record, Invalda INVL boasts 30 years of experience in managing private equity assets in the Baltic countries and CEE landscape while developing companies into best-in-class market leaders.