InMedica invests in a new concept of medical services: acquires Altameda clinics in Vilnius and Kaunas

The quarantine did not stop the expansion plans of the network of medical clinics InMedica. InMedica has invested in Altameda UAB, which operates two clinics in Akropolis (Kaunas) and Mindaugas Maxima (Vilnius).

The newly acquired clinics operate in a “walk-in” concept, where patients can perform quick examinations, vaccinations and receive consultations for simple health disorders without prior registration. Although this type of clinics in foreign countries, such as the US or the UK, has already gained popularity among patients, in Lithuania it is still a relatively new experience.

By expanding the range of services provided to our patients, we are constantly investing not only in the acquisition of new clinics and equipment, but also in looking for new, innovative solutions for our customers. We believe that clinics of this concept increase the availability of medical services, therefore they will become more and more established in the general healthcare system,” says Laura Penikienė, General Manager of InMedica.

We notice that as the pace of life increases, people are looking for a quick and reliable way to take care of their health and no longer want to wait in line at medical institutions to get vaccinated, perform blood tests or receive a consultation. In Lithuania, patients are already discovering the advantages of this concept, so we believe that such services will only grow in the long run due to their efficiency and convenience,” explains L. Penikienė.

Although Altameda clinics are currently suspended due to quarantine, it plans to resume operations as soon as possible.

InMedica acquired 100% of Altameda UAB from two previous managers of the company. Currently Altameda has 12 employees. The company’s revenue last year amounted to EUR 345 thousand. The value of the transaction is not disclosed.

About InMedica

The network of medical clinics InMedica offers diagnostic, outpatient treatment, surgery, dentistry and other medical services. Professionals in their field, using modern equipment, pay full attention to the patients and their health, and perform extensive laboratory tests.

InMedica Group consists of 16 family medicine centres, 3 general clinics and 1 specialized cardiology clinic. In 2019 a modern day surgery centre of InMedica started operating in the Santariškės medical town located in Vilnius.

In 2019 revenue of InMedica Group was EUR 12.7 million. From February 2019 70 percent of InMedica is owned by the largest private equity investment fund in the Baltics, INVL Baltic Sea Growth Fund, 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 the largest private equity fund 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 30 million 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 EUR 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 two companies within the healthcare and civil engineering 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 200,000 clients in Lithuania and Latvia and international investors have entrusted the group with more than EUR 1 billion of assets under management. Active since 1991 and with a solid track record, Invalda INVL boasts 28 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.