Medical SPA Eglės sanatorija, the leader of the Lithuanian medical spa industry, managed by INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltic States, will start renovating its medical spa facilities in Druskininkai next year. The project is expected to increase the capacity of medical rehabilitation services and medical spa treatment procedures by 30%, and expand the range of therapeutic services.
“By modernising and renovating not only the buildings of the medical spa, but also the overall infrastructure, we aim to establish ourselves as the leading medical spa service provider in Europe offering a wide range of medical spa, resort treatment and medical rehabilitation services. We intend to start this ambitious and important €36 million project in the summer of 2025 and complete it by the end of 2026,” says Artūras Salda, the Managing Director of Medical SPA Eglės sanatorija.
The contract has already been signed with “Unitectus”, the designers of the “Ozas” shopping mall in Vilnius, the “Live square” multifunctional complex, the “Eleven” office building, and other real estate developments. “Taem Group” will be the project manager for the renovation and modernisation project.
In line with sustainability requirements and in order to preserve the historical authenticity, the buildings of Medical SPA Eglės sanatorija will be renovated rather than demolished and reconstructed. This will involve introducing modern building management solutions and reducing the energy consumed for heating by more than 40%. One of the buildings will house a modern physical medicine and rehabilitation center, vertical baths, as well as indoor and outdoor swimming pools 1,100 m2 in area.. Two blocks of the medical spa will be converted into four-star accommodation complexes.
“The modernisation of Lithuania’s largest medical spa will expand the range of its medical services, making it even more suitable for delivering of medical spa treatments and medical services. The project will optimize the use of space, ensure a greater comfort for individuals with mobility impairments. Additionally, the treatment capacity will increase by nearly a third. New offerings will include inpatient commercial rehabilitation, biorelaxation therapy and longevity programmes,” says Artūras Salda.
During the renovation, the medical spa will remain open for business as usual and the renovation work will proceed in such a way as to ensure maximum comfort for the arriving guests. After the project is complete, an even larger number of clients will be able to benefit from the treatment and wellness programmes. One of the aims is to attract more youth by educating them about the benefits of disease prevention, therapy, and rehabilitation.
“We view Medical SPA Eglės sanatorija as an integral part of the healthcare system — we believe that preventive medical spa treatments contribute to a healthier life, while rehabilitation procedures help to restore weakened health more quickly and efficiently. Therefore, we see our investment in the renovation of Medical SPA Eglės sanatorija primarily as benefiting the client and society. Moreover, we strongly believe that once the renovation is complete, the services provided by the medical spa will attract more clients not only from Lithuania, but also from abroad,” comments Nerijus Drobavičius, Partner at INVL Baltic Sea Growth Fund and Chairman of the Board of Medical SPA Eglės sanatorija.
According to Artūras Salda, the modernisation and transformation of the medical spa to provide innovative medical rehabilitation services will facilitate the recruitment of more highly qualified specialists. As a result, the number of the company’s employees in Druskininkai, which currently stands at around 500, is expected to grow even further in the future.
“This medical spa remains the largest employer in our resort town. The huge investment will, without a doubt, provide a boost to the entire community, as more individuals will take advantage of the rehabilitation and wellness services. Druskininkai is already well-known and respected among the European resort towns, and the introduction of new services by Medical SPA Eglės sanatorija will further strengthen the image of our town,” says the Mayor of Druskininkai Municipality Ričardas Malinauskas.
The planned renovation project in Druskininkai will be just another stage in the development of Medical SPA Eglės sanatorija services. This fall, the 1,000 m2 Eglė Rehabilitation Centre opened its doors in Vilnius following a €2 million investment.
Medical SPA Eglės sanatorija currently operates in four cities across the country. Druskininkai and Birštonas have medical spas and Vilnius and Kaunas have rehabilitation centres. In the annual European Health and Spa Awards, presented by the European Spas Association (ESPA), Medical SPA Eglės Sanatorija has been named the most innovative institution for 2023.
In 2023, more than 70,000 clients used the services of Medical SPA Eglės sanatorija.
INVL Baltic Sea Growth Fund, together with its co-investors, owns 100% of “BSGF Salt”, the company that manages Medical SPA Eglės sanatorija.
About the INVL Baltic Sea Growth Fund
With a size of EUR 165 million, the INVL Baltic Sea Growth Fund is the leading private equity fund in the Baltics. Its anchor investor is the European Investment Fund (EIF).
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) 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 focused on investments in the Baltic countries and neighbouring regions such as Poland, the Nordics, and Central Europe. The INVL Baltic Sea Growth Fund has already invested in a diversified portfolio of nine companies. That includes companies operating in the food processing, healthcare, medical rehabilitation, civil engineering, plastic recycling, environmental management, and veterinary services sectors, as well as in the manufacturing of cosmetics and hygiene products.
The fund is managed by INVL Asset Management, the leading Baltic alternative asset manager, which is a part of the Invalda INVL Group, with a track record spanning over 30 years. The group’s companies manage or have under supervision more than EUR 1.5 billion of assets under management across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate, and private debt. The group’s activities also include family office services in Lithuania, Latvia, and Estonia, management of pension funds in Latvia, and investments in global third-party funds.
