The chain of medical clinics InMedica has signed an agreement to acquire Saulenė UAB, a medical clinic operating in Joniškis that provides primary and secondary health care services. This is InMedica’s first investment in the Joniškis region.
“Until now, InMedica was not providing medical care services in the Joniškis region. We are delighted that, by joining forces with Saulenė UAB, from now on, we will be able to provide quality services to the residents of Joniškis. InMedica plans to invest in state-of-the-art solutions that increase the quality of medical services to ensure the development of new services and accessibility for a larger number of patients,” says Kęstutis Broniukaitis, CEO of InMedica.
The clinic acquired by InMedica in Joniškis – Saulenė UAB – has been operating since 2004 and has a branch in Žagarė. The clinic provides dental care, primary health care, and secondary level outpatient services. It currently has 33 employees and has 5 thousand registered patients. In 2020, the turnover of the company amounted to EUR 850 thousand.
The acquisition agreement was signed with the founders of the clinic: Ms. Jurgita Damalakienė and Mr. Gintaras Damalakas.
According to Jurgita Damalakienė, Director of Saulenė clinic, “For private medical clinics, it is especially vital to have strong support in the presence of COVID-19. Therefore, we believe that the merger with InMedica will significantly contribute to running the clinic’s work processes more efficiently and ensuring the improvement of services provided to patients.”
With a network of 35 clinics in several cities, InMedica is one of the largest private medicine centres in Lithuania. InMedica provides diagnostic, outpatient, surgery, dentistry and other medical services. InMedica group consists of 21 family medicine centres, 4 broad-profile hub clinics, 4 specialized clinics, 6 walk-in clinics and 3 laboratories.
InMedica group has more than 1000 employees and provides healthcare services to more than 100,000 registered patients. In 2020 the Group received revenue of EUR 18.0 million. Since February 2019, 70% of the shares of InMedica are owned by INVL Baltic Sea Growth Fund, one of the largest private equity investment funds 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 EUR 165 million is one of the largest private equity funds 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 EUR 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 EUR 10 million to 30 million, 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 250,000 clients in Lithuania and Latvia and international investors at the end of the third quarter of 2021 have entrusted the group with more than €1.5bn of assets under management. Active since 1991 and with a solid track record, Invalda INVL boasts 30 years’ worth of experience in managing private equity assets in the Baltic countries and CEE landscape while developing companies into best-in-class market leaders.
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