InMedica, a network of medical clinics, has acquired Kaunas Implantology Center (hereinafter – KIC), which provides dental, oral surgery, and dental implant services. This investment marks the expansion of the network in the field of dental services started last year. KIC is the first clinic acquired by the network to provide a wide range of dental services in Kaunas.
“The dental services provided by most InMedica clinics so far have included primary dental care and were intended for basic treatment. Observing the growing demand in the market for secondary level dental services of a wider spectrum, such as oral surgery, implantology, orthodontic treatment, etc., last year we started to develop these services in Vilnius, opening a specialized clinic for patients in the capital city. We are excited that from now on we will be able to offer a wider range of dental services to our clients in Kaunas. We are certain that KIC’s team of professionals, led by some of the most experienced specialists in the market who apply the most modern treatment solutions, will ensure the maximum quality of services,” Kęstutis Broniukaitis, CEO of InMedica, comments on the future merger.
According to the Head of InMedica, K. Broniukaitis, it is planned to maintain and develop the existing brand of KIC, taking into account the sufficiently high awareness of it by the public: “We aim for this investment to motivate established professionals even more to work in KIC. The whole team of managers, who have gained the trust of their employees, will be continuing to work in the clinic, and the changes planned are focused on even greater assurance of the quality of services”.
InMedica has acquired 100 percent of KIC shares from the founders of the clinic m.d., dr. Dainius Razukevičius and Ms. Vaidotė Razukevičienė. KIC provides dentistry, oral surgery and dental implantation, periodontal, orthodontic treatment, dental prosthesis, therapeutic treatment services.
“Quality, continuous improvement, and team cooperation are the most important priorities of KIC clinic. The long-term trust of patients and specialists in the KIC clinic team is particularly important to us. We believe that cooperation with InMedica will help to ensure the continuity of the highest level of service quality, create value for patients, implement innovations and ensure business success,” says Gerda Asipavičienė, Director of KIC.
KIC Clinic was established in 2009. The company currently has 26 employees. Last year the company’s turnover amounted to €1.82 million.
With a network of 36 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 22 family medicine centres, 4 broad-profile hub clinics, 3 specialized clinics, 6 walk-in clinics, 3 laboratories and 1 plastic surgery clinic.
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.