Private medical chains, InMedica and MediCA Group have completed a merger partnership. INVL Baltic Sea Growth Fund, a private equity investment fund, supported the merger partnership.
The newly combined company will have a turnover in the region of €90 million, with more than 250 thousand patients. The deal represents a prominent healthcare clinic deal for Lithuania.
INVL Baltic Sea Growth Fund seeks to assemble a diversified portfolio of companies, targeting majority or significant minority stake deals. The fund with its total size of €165m is a private equity fund in the Baltics with the European Investment Fund acting as its anchor investor.
Nerijus Drobavičius, partner at INVL Baltic Sea Growth Fund, commented, “The core mission statement of INVL Baltic Sea Growth Fund, our private equity platform, is to provide capital support and operational expertise to local companies to help them achieve their ambitious strategic growth plans. We invested in InMedica back in 2019 when the company was generating ~€10m in revenues. We are, therefore, pleased that after only 3 years of working alongside founder and CEO Kęstutis Broniukaitis, together we have managed to significantly increase the turnover and profitability of the company, as well as the number of active clinics practicing, both organically and through bolt-on acquisitions.”
This complex transaction was financed by Luminor Bank. TGS Baltic, Deloitte, and Copenhagen Economics represented InMedica. Cobalt and Baltic Partn represented MediCA Group. The process was overseen by the Competition Council of the Republic of Lithuania, with advisory services from Hortus Investment Banking, Greenlex and Konrema.