The chain of medical clinics InMedica has signed an agreement to purchase the family medical clinic chain UAB Medicinos Paslaugų Centras (MPC) operating in Vilnius. It is the first investment by InMedica this year in a network of private medical clinics providing a wide range of services in the capital of Lithuania.
“MPC is one of the largest and longest-running private networks of family medicine clinics in Vilnius. We appreciate such a professionally managed and efficiently operating clinic network that has been on the market for more than 20 years joining InMedica. We have no doubt that by joining forces it will be possible to continue the activities of MPC in a high-quality manner, ensuring the highest standards of healthcare service provision for an even larger number of patients in the capital,” says the CEO of InMedica, Mr. Kęstutis Broniukaitis.
Currently, the MPC network consists of 4 clinics operating in the Pilaitė, Justiniškės, Fabijoniškės, and Perkūnkiemis micro districts of Vilnius. The clinics provide primary care, dental, mental health, physical therapy, and secondary outpatient services.
InMedica purchased MPC shares from the company’s founders – Asta Vilienė and Vilija Švedienė.
„For many years, ensuring the highest quality standards and continuous improvement have been the most important operational priorities of MPC. We believe that the strong support of InMedica will significantly contribute to even more efficient processes of the center’s operations and the continuous improvement of the quality of services provided to patients. At the same time, it will be an important contribution to an even greater motivation of strong specialists to work at MPC“, says the director and main shareholder of MPC, Ms. Asta Vilienė.
The network of MPC clinics has been operating in Vilnius since 1999. MPC has 10,800 registered patients. Presently, more than 80 employees work in the network. Last year, the turnover of the company reached EUR 1.9 million.
After the acquisition of MPC, the InMedica group currently owns a total of 63 family medicine clinics throughout Lithuania.
After merging with MediCA Group, InMedica is the largest private healthcare service provider in Lithuania with a network of 77 clinics. InMedica provides diagnostic, outpatient, surgery, dentistry and other medical services. InMedica group consists of 63 family medicine centres, 6 broad-profile hub clinics, 7 specialized clinics, 5 walk-in clinics and 3 laboratories.
InMedica group has more than 2800 employees, provides healthcare services to more than 260 thousand registered patients and generated revenues over EUR 84 million. 45% 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, 40% is controlled by Repharm, the largest Latvian private medicine group while the remaining 15% are owned by Litgaja UAB.
About INVL Baltic Sea Growth Fund
INVL Baltic Sea Growth Fund with its total size of €165mn is the leading private equity fund in the Baltics with the European Investment Fund (“EIF”) acting as its anchor investor.
The EIF has committed €30mn 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 €10mn to €30mn, 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 six companies within the healthcare, civil engineering, environmental management (plastic recycling and waste management), veterinary services and cosmetics and hygiene products manufacturing sectors.
The Fund is managed by the leading in the Baltic region investment management and life insurance group INVL. The Group’s companies manage pension, mutual funds and life insurance commitments as well as individual portfolios, private equity and other alternative investment products. More than 290,000 clients across Lithuania, Latvia and Estonia plus international investors have entrusted the Group’s companies with the management of over EUR 1.7 billion in assets. The Group has a strong track record managing private equity assets and building leading market players in the Baltic countries and the Central and Eastern European region for over 30 years.