BaltCap exits InMedica to INVL

Under BaltCap's ownership, InMedica actively consolidated the market by acquiring existing clinics, opening three new facilities and enhancing its service offering. As a result, the company quadrupled its revenue, according to BaltCap. 

The deal marks the seventh exit for BaltCap this year, and the fifth exit for the Lithuania SME Fund. Four more companies are left in the portfolio – Impuls LTU, Labochema, Ygle Pastatu Valdymas and Trafi.

In total, the INVL Baltic Sea Growth Fund is to acquire a 70% stake in InMedica. Its subsidiary, BGSF Sanus, will transfer the investment to the Lithuanian private equity fund INVL Baltic Sea Growth Fund, managed by INVL Asset Management of Invalda INVL group, once the fund starts investing.

Launched in June of this year, the INVL Baltic Sea Growth Fund seeks to invest in medium-sized companies with an attractive risk-return ratio, providing them with capital for further growth.

Previous funding
BaltCap Lithuania SME Fund acquired the shares of the company in 2012, when it had five clinics.

Company
Headquartered in Vilnius and established in 2004, InMedica operates a network of 18 clinics in several Lithuanian cities. The clinics offer family medicine and a range of other healthcare services. In 2017, the company had revenue of €6.9m.

People
BaltCap – Kornelijus Čelutka (partner).
INVL Baltic Sea Growth Fund – Nerijus Drobavičius (partner).
InMedica – Laura Penikiene (general manager).

Advisers
Equity – Alpha Advisors (financial due diligence); TGS Baltic (legal).

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• Topics
• Exits
• Buyouts
• CEE
• Healthcare
• Baltics
• Baltcap Management Ltd
• Secondary buyout
• Lithuania