InMedica group completes acquisition of Vilniaus Implantology Centre Clinic

The InMedica network of medical clinics has completed the acquisition of the Vilnius Implantology Centre Clinic (hereinafter, the VIC Clinic). The transaction, which was completed after obtaining clearance from the Lithuania’s Competition Council, is a milestone in the network’s ongoing expansion in the field of dental medicine.

This investment is strategically important to us, as for several years we have been seeking to broaden the range of dental treatments available in the network and include services that are increasingly sought by patients such as implants, prosthetics, teeth straightening, and so on. Given the rapidly growing demand for such services in the market, we are delighted that the VIC Clinic’s team of highly experienced professionals will continue to provide people in Vilnius with care of the highest quality. The VIC Clinic is known in Lithuania and abroad for its innovative solutions in dental care,” says Kęstutis Broniukaitis, the CEO of the InMedica group.

He notes that the team, which has earned patients’ trust, will also help to extend top-quality services to other InMedica clinics which until now mainly only provided primary dental care.

Patients can currently obtain a variety of dental services at 71 InMedica group clinics in 25 Lithuanian cities, including 4 specialised dental clinics in Vilnius, Kaunas, Klaipėda and Panevėžys. The InMedica group has the largest network of dental care providers in Lithuania.

InMedica acquired 100% of the shares of the VIC Clinic from OP group, a company co-owned by the clinic’s founder Algirdas Puišys, PhD, DDS.

More than two decades of experience and continuous improvement have enabled us to successfully overcome the challenges in the market and maintain superior service quality. We are convinced that working with InMedica will open up even greater opportunities to make modern treatment methods more accessible to many patients,” Dr Puišys says.

Founded in 2001, VIC Clinic is the first Vilnius-based clinic acquired by the InMedica group that provides a wide range of dental services. It offers patients dental implants, prosthetics, teeth straightening, aesthetic restorations, fillings, professional oral hygiene, teeth whitening, periodontal care, root canal treatment, wisdom tooth extraction and sedation services.

TGS Baltic served as legal advisors to the buyer in the transaction and Walless acted as legal advisor to the seller. Superia, a financial advisory firm, advised the seller on financial matters.

INVL Baltic Sea Growth Fund, a leading Baltic private equity fund, controls 45% of InMedica’s shares, 40% is controlled by Repharm, the largest Latvian private medicine group while the remaining 15% are owned by Litgaja UAB.

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 nearly 290 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 a leading equity fund 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.