InMedica Group Acquired by Finland’s Leading Healthcare Company
Mehiläinen
INVL Baltic Sea Growth Fund, the leading private equity
fund in the Baltics, and other shareholders, have signed an
agreement to sell InMedica Group, Lithuania’s largest private
healthcare network, to Mehiläinen, Finland’s
largest social and healthcare provider with fast growing
international presence. The transaction will be
concluded upon approval by the competition
authorities.
InMedica Group is a network of medical clinics and hospitals with
over 3,500 employees and 89 facilities. The group provides over 2.7
million doctor visits annually and is a primary healthcare provider
for more than 310,000 registered patients. InMedica Group’s revenue
is expected to exceed EUR 150 million in 2024.
With a history going back 115 years, Mehiläinen is a high-quality
private provider of social and healthcare services, having presence
in Finland, Sweden, Germany, and Estonia. It serves 2.1 million
customers annually, and services are produced at 840 locations by
more than 37,000 employees and private practitioners. InMedica
Group’s service portfolio and business model align closely with
Mehiläinen’s, underpinning the rationale for the transaction, for
patients, for medical professionals and employees.
InMedica Group’s current shareholders are the INVL Baltic Sea
Growth Fund, the leading private equity fund in the Baltics, AB
City, private group of healthcare and pharmaceutical manufacturing
companies, and private company Litgaja, controlled by Kęstutis
Broniukaitis, InMedica’s founder and CEO. Mehiläinen’s investment
in InMedica is expected to be the largest one in healthcare
services in the Baltic countries.
Nerijus Drobavičius, Partner at INVL Baltic Sea
Growth Fund and Chairman of the Board at InMedica Group, commented
as follows: “This is a landmark transaction for our fund and its
investors, as well as, for the entire Lithuanian healthcare market.
We are very happy that our fund has been able to help to transform
InMedica Group into Lithuanian market leader and to become an
integral part of the healthcare system. The company has grown
significantly in services and geographically. Our goal was to
ensure the continued development of the company beyond our period
of ownership, and we believe that Mehiläinen, with its expertise in
healthcare, its knowhow and corporate culture represents an ideal
strategic investor for InMedica Group. I would also like to express
my heartfelt thanks to the talented InMedica personnel and our
investors.”
Kęstutis Broniukaitis, CEO at InMedica Group,
commented as follows: "As the company has grown over the last
several years, bringing with it a significant increase in our
responsibilities to patients, employees, partners, authorities, and
society as a whole. That is why we are thrilled to have Mehilainen
Group, a trusted and reputable partner, supporting us moving
forward. Joining forces with Mehiläinen offers a valuable
opportunity for professional collaboration, enhanced expertise, and
the introduction of advanced technologies to Lithuanian customers.
Together, we are on a lifelong mission to improve the quality and
access to healthcare services for the benefit of patients in
Lithuania.”
Expansion into Lithuania aligns with Mehiläinen’s growth
strategy and will make Mehiläinen the largest private healthcare
provider in the Baltic countries.
Andreas Taalas, Mehiläinen Business Line
Director for the Baltic region, said: “The private healthcare
market in Lithuania is growing rapidly, and InMedica Group is a
market leader with high quality and excellent reputation. I’m
excited to work with Kęstutis and the management team. Together we
can continue the successful track record of growth and further
enhance the services provided.”
The transaction does not have a direct impact on InMedica
group’s personnel or patients and the day-to-day operations will
continue as usual, ensuring a seamless transition for all
stakeholders. The management of InMedica Group will continue to
grow and develop the company together with Mehiläinen.
InMedica Group was advised by investment bank Jefferies (M&A
strategy), Deloitte (financial and tax vendor diligence), L.E.K.
Consulting (commercial diligence), and Walless (as legal counsel),
while Mehiläinen's advisors included Porta Finance (M&A), EY
(financial and tax), and Cobalt (legal counsel).
New INVL private equity fund to be
launched
The INVL Baltic Sea Growth Fund has consistently created value
for its investors and since its launch in 2019, it has completed 9
portfolio investments at the end of Q3 2024. The acquisition of
InMedica confirms the realization of the value created in one out
of the nine portfolio companies of the fund. As the fund is nearing
the end of its investment period, Invalda INVL Group is currently
fundraising for the new INVL Private Equity Fund II, targeting a
size of EUR 250 million. The new fund will be managed by the same
team that has demonstrated the ability to execute complex
transactions and manage companies to ensure their rapid expansion
and value growth. This team will continue the successful strategy
of the INVL Baltic Sea Growth Fund.
About InMedica Group
With a network of 84 clinics and 5 laboratories across 27
cities, InMedica Group is the largest private healthcare service
provider in Lithuania. It is the owner of InMedica, Kardiolita
Hospital, and VIC Dental Clinics. InMedica Group offers a
comprehensive range of medical services, including family care,
diagnostics, outpatient care, surgery, dental care and other
medical services. InMedica Group has over 3,500 employees and
provides healthcare services for over 310,000 registered patients.
In 2024 InMedica Group’s revenue is expected to reach approximately
EUR 150 million.
About Mehiläinen Group
Mehiläinen Group is a well-known and highly respected private
provider of social and healthcare services, offering comprehensive
high-quality services in its home market Finland and in Sweden,
Germany, and Estonia. Mehiläinen offers digital healthcare
software solutions through its subsidiary BeeHealthy. With a
115-year history, Mehiläinen is a rapidly developing and growing
leader in the industry. It serves 2.1 million customers annually,
and services are produced at 840 locations by more than 37,000
employees and private practitioners. Mehiläinen invests in the
possibilities of digitalisation and the effectiveness and quality
of care in all its business areas.
About the INVL Baltic Sea Growth Fund
With a fund 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), which is a part of
the European Investment Bank, and 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, to increase
capital investment in high-growth potential small and medium-sized
enterprises in the Baltics). The fund is managed by Invalda INVL
group, which companies manage or have under supervision more than
EUR 1.6 billion of assets.
About AB City
AB City is the parent company of two economically and socially
significant joint-stock companies – Repharm and Olpha. The group
includes companies operating in healthcare services and laboratory
testing, pharmaceutical retail and wholesale, the production of
medicines and medical devices. The group’s companies are
represented across the Baltic region and export medicines and
medical devices to at least 60 countries worldwide. AB City’s
development strategy is focused on investments in expanding high
quality and innovative healthcare and laboratory services through
Baltics and other European Union countries, while also broadening
medicines product portfolio to strengthen Baltics pharmaceutical
manufacturing capacities.
Issuer's representative for additional information:
Nerijus Drobavičius, Partner at INVL Baltic Sea Growth Fund
Nerijus.Drobavicius@invl.com
Grafico Azioni Invalda Invl Ab (LSE:0IJB)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Invalda Invl Ab (LSE:0IJB)
Storico
Da Gen 2024 a Gen 2025
