The largest Lithuanian network of medical clinics InMedica has acquired a private J. Pauliukas Family Clinic in Panevėžys, which provides family medical services. This is InMedica’s first investment in family clinics in the city.
“Up until this point, InMedica had not directly provided family medicine services in Panevėžys. Therefore, we are glad that from now on these services will be available to the residents of Panevėžys. We are grateful to the founder J. Pauliukas for his trust, as the doctor will remain working in the clinic after the purchase is completed, thus ensuring high-quality continuity of work and creating conditions to consistently increase the efficiency of the acquired clinic,” says Kęstutis Broniukaitis, CEO of InMedica.
InMedica obtained 100% of J. Pauliukas Family Clinic shares from the founder of the clinic, family doctor Jonas Pauliukas. The clinic provides general health care, internal health care, pediatric, gynecological, surgical, obstetric, general practitioner, and personal health care services.
According to the founder of the clinic Jonas Pauliukas, “the purposeful development of the services offered by the clinic and ensuring the highest quality standards have been the most important priorities for many years. We believe that the cooperation with InMedica will significantly contribute to even more efficient clinical processes and continue to help ensure the highest level of service to patients. “
J. Pauliukas Family Clinic was founded in 2004 and currently employs 30 people serving more than 5,000 patients. Last year, the company’s turnover amounted to EUR 0.5 million.
The InMedica Cardiology Clinic and two MediCA clinics, which joined the group in March 2022, are also operating in Panevėžys.
After merging with MediCA Group, InMedica is the largest private healthcare service provider in Lithuania with a network of 76 clinics. InMedica provides diagnostic, outpatient, surgery, dentistry and other medical services. InMedica group consists of 57 family medicine centres, 6 broad-profile hub clinics, 7 specialized clinics, 6 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 founder and CEO Kęstutis Broniukaitis through holding company Litgaja UAB.
About INVL Baltic Sea Growth Fund
The INVL Baltic Sea Growth Fund, with a size of EUR 165 million, is one of the largest private equity funds in the Baltics and has the European Investment Fund (EIF) as 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’) while 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, targeting majority or significant minority stakes through investments of EUR 10 million to EUR 30 million in companies that demonstrate high growth potential and an ability to succeed in conditions of increasing global competition. The fund is focused on the Baltic countries and neighboring regions including Poland, the Nordics and Central Europe. The fund so far has invested in five companies in the healthcare, civil engineering, environmental management (plastic recycling and waste management) and cosmetic and hygiene products manufacturing sectors.
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, individual portfolios and private equity and other alternative investments. More than 250,000 clients in Lithuania and Latvia and international investors have entrusted the group with over EUR 1.5 billion of assets under management. Active since 1991, Invalda INVL has a solid 30-year track record of managing private equity and developing companies into market leaders in the Baltics and CEE.