Continuing previous expansion in the field of dental services, InMedica group has acquired RVL, a dental clinic in Panevėžys which offers oral hygiene and oral surgery services as well as dental fillings, extractions, prosthetics and implants. RVL is the first dental clinic that the healthcare group has acquired in Panevėžys and the fourth in Lithuania overall.
“In the past, the dental services offered at most InMedica clinics were limited to primary dental care and focused on simple treatments. However, after observing a growing demand in the market for secondary care and a broader range of dental services, several years ago we began a strategic expansion of those services in several Lithuanian cities – Vilnius, Kaunas and Klaipėda. Going forward, we will be able to offer a wider range of dental services such as oral surgery, implantology, orthodontic treatment, among other, to our patients in Panevėžys,” says Kęstutis Broniukaitis, CEO of InMedica group.
The plan, the CEO adds, is to maintain and further develop the clinic’s extensive experience and loyal patient base: “RVL is one of the longest operating dental clinics in Panevėžys, so patients have great trust in its doctors’ skills and are happy with the high quality of services. We will try to ensure that, for the team, our investment becomes yet another incentive to work here, benefiting everyone involved.”
The RVL dental clinic was established in 2008. Its facilities include five modern dental offices where over 7,000 patients are treated each year. The current team of 17 specialists will continue their work at the clinic. These include dentists, orthodontists, maxillofacial surgeons, oral hygienists and dental technicians.
“The aim of ensuring the highest quality of dental services is without a doubt the top priority for the RVL clinic. The team’s focus and professionalism over many years have earned the trust of patients and specialists alike, and collaborating with InMedica’s clinics will help to further nurture that trust. We are confident that this partnership will enable us to use our existing know-how even more effectively, to create value for patients, innovate and ensure the success of the business,” says CEO of InMedica group.
The RVL dental clinic had revenue of €1.07 million last year and projects growth to €1.2 million this year.
About InMedica group
InMedica group is the largest private healthcare service provider in Lithuania with a network of 82 clinics. Its companies provide diagnostic, outpatient, surgery, dentistry and other medical services. InMedica group consists of 63 family medicine centres, 6 broad-profile hub clinics, 8 specialized clinics, 5 walk-in clinics and 3 laboratories.
InMedica group has more than 2950 employees, provides healthcare services to more than 289 thousand registered patients and generated revenues over EUR 101 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
With a size of EUR 165 million, the INVL Baltic Sea Growth Fund is one of the largest private equity funds in the Baltics. The European Investment Fund (“EIF”) is its anchor investor.
The EIF, which is a part of the European Investment Bank, has committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or ‘Junker Plan’) whilst also allocating resources from the Baltic Innovation Fund, a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia. The initiative aims to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics.
The fund seeks to assemble a diversified portfolio of companies, targeting majority or significant minority stakes through investments ranging from of EUR 10 million to EUR 30 million. These companies must demonstrate high growth potential and an ability to succeed in conditions of increasing global competition and market volatility.
The fund is focused on the Baltic countries and neighbouring regions including Poland, the Nordics, and Central Europe. The fund has invested in seven companies to date, focusing on sectors including healthcare, medical rehabilitation, civil engineering, environmental management (plastic recycling and waste management), veterinary services, and the manufacturing of cosmetics and hygiene products.
The fund is managed by INVL, the leading Baltic investment management and life insurance group. The group’s companies manage pension and mutual funds, life insurance directions, individual portfolios, private equity as well as other alternative investments. More than 300,000 clients in Lithuania, Latvia and Estonia plus international investors have entrusted the group with the management of over EUR 1.75 billion of assets. With a track record spanning 30 years, the group has strong expertise and experience in managing private equity assets and building true market players that are leaders in their respective fields in the Baltic countries and across Central and Eastern Europe.