Invalda INVL : InMedica acquired two medical clinics in Utena

The chain of medical clinics InMedica, an investment of INVL Baltic Sea Growth Fund, continues its regional development by acquiring two medical clinics in Utena, Aksanas UAB and Dilina UAB, which both operate under the Šalavijas brand. The clinics provide primary and secondary healthcare services. 'We are pleased to have completed a transaction that opens the opportunity to operate in Utena. This investment is part of InMedica's consistent growth strategy in an aim to expand regionally and ensure high-quality service availability to residents across whole Lithuania,' says Kęstutis Broniukaitis, CEO of InMedica. According to Mr. Broniukaitis, Šalavijas is an effective, professionally managed clinic, which provides a wide spectrum of healthcare services and offers patients a possibility to visit highly qualified specialists: 'We are confident that major changes within the clinic should not be needed. The main goal will be the continuation of the firms' activities, while ensuring the highest quality standards of healthcare services provided,' says Mr. Broniukaitis. InMedica's acquired Dilina UAB focuses on primary healthcare services, while Aksanas UAB provides a wide spectrum of secondary services, including neurology, ultrasound, radiology, gynecology, cardiology, rehabilitation, etc. Both clinics of Šalavijas combined employ 75 specialists and their generated turnover exceeded €1 million in 2020. InMedica acquired 100% of the entities' shares, most of which were held by Jūratė Dambravienė, an entrepreneur with a long-term experience in the medicine sector. 'We are happy to hand over Šalavijas to InMedica's credible hands and we hope that these changes will ensure an even more significant qualitative leap that will soon be felt by the clinic's doctors, as well as the patients, whose trust we have already earned. We are convinced that after joining forces and being able to use InMedica's operational know-how, we will be able to provide a more effective access to services', Ms. Dambravienė presented the changes. Šalavijas became the 26th clinic in InMedica's network, including 8 clinics in Vilnius, 7 clinics in Kaunas and 11 clinics in other Lithuanian cities.
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[RG1] ,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.