The leading private equity fund in the Baltic States "INVL Baltic Sea Growth Fund" and other shareholders have signed an agreement on the sale of the largest Lithuanian private medical service network "InMedica grupė" to the largest Finnish provider of social and health care services, rapidly growing in international markets, "Mehiläinen". The transaction will be concluded after obtaining the permits of the competition supervisory authorities.
"InMedica group" is a network of 89 medical clinics and hospitals, which employs more than 3,5 thousand people. employees. The group annually provides more than 2,7 million visits to doctors and is a provider of primary health care services for more than 310 registered patients. It is planned that the income of "InMedica group" will exceed 2024 million in 150. euros.
With a history of 115 years, Mehiläinen is a high-quality private provider of social and healthcare services in Finland, Sweden, Germany and Estonia. It serves 2,1 million people annually. customers, and services are provided by more than 37 thousand employees and private practitioners in 840 units. InMedica Group's service portfolio and business model are closely aligned with Mehiläinen's operating principles, justifying the transaction logic for patients, medical professionals and employees.
Currently, the shareholders of the InMedica group are the leading private capital fund in the Baltic States INVL Baltic Sea Growth Fund, the private group of healthcare services and pharmaceutical production companies AB City and the private company Litgaja, which is controlled by the founder of InMedica and manager Kęstutis Broniukaitis. Mehiläinen's investment in InMedica Group is expected to be the largest healthcare investment in the Baltic States.
"This is a significant transaction for our fund and its investors, as well as for the entire Lithuanian health care sector. We are glad that our foundation could help InMedica Group to become the leader of the Lithuanian market and an integral part of the health care service system. The company has grown significantly in terms of services provided and geographically. Our goal was to ensure the continued development of the company even after we are no longer the owners, so we believe that Mehiläinen, with its experience in healthcare services, knowledge and corporate culture, is an ideal strategic investor for the InMedica Group. I would also like to sincerely thank the talented employees of "InMedica group" and our investors," commented Nerijus Drobavičius, partner of "INVL Baltic Sea Growth Fund" and chairman of the board of "InMedica group".
"Over the past few years, the InMedica group has consistently grown, and along with that, our responsibility to patients, employees, partners, authorities and society has also increased. We understand and appreciate the impact we have on the social environment, so we try to act responsibly and considerately. We are very happy that our future operations will be strengthened by a strategic partner, the Mehiläinen Group, a reliable and reputable name. Joining forces with "Mehiläinen" opens up valuable opportunities for professional cooperation, strengthening of competence and implementation of advanced technologies for Lithuanian patients. Together, we will strive to implement a long-term mission - to improve the quality and accessibility of health care services for Lithuanian patients", says Kęstutis Broniukaitis, CEO of InMedica Group.
The expansion in Lithuania is in line with Mehiläinen's growth strategy and will enable Mehiläinen to become the largest private provider of healthcare services in the Baltic States.
"The private health care market in Lithuania is growing rapidly, and the InMedica group is a clear market leader, characterized by high quality of services and an excellent reputation. I am happy to work with Kęstučius and the management team. Together, we can continue our successful growth and further improve our services," said Mehiläinen's business line director for the Baltic region, Andreas Taalas.
The transaction will have no direct impact on InMedica Group staff or patients, and day-to-day operations will continue as usual, ensuring a smooth transition for all stakeholders. The management of the InMedica group will continue to grow and develop the company together with Mehiläinen.
The InMedica Group was advised by Jefferies Investment Bank (M&A strategy), Deloitte (vendor financial and tax due diligence), LEK Consulting (vendor commercial due diligence) and Wallace (as legal advisor), and Mehiläinen Advisors included Porta Finance (M&A), EY (finance and tax) and Cobalt (legal).
