Baltic private equity firm BaltCap has sold its majority stake in healthcare operator InMedica.
The stake has been sold to BGSF Sanus, part of asset management company Invalda.
InMedica owns a chain of primary care and specialised outpatient clinics in seven cities in Lithuania.
BaltCap’s Lithuania SME Fund acquired the stake in 2012, and since then InMedica has expanded its operations from five clinics to 18 clinics.
Kornelijus Čelutkas, Partner of BaltCap said: “Over the last six years, InMedica has actively consolidated the market by acquiring existing clinics, has opened three new facilities and enhanced its service offering. As a result, the company more than quadrupled its revenue. Special credit and big thank you goes to the management team who led this development. We are pleased that the acquirer has recognized InMedica's strategic position and confident it will take the business to the next level.”
Laura Penikiene, General Manager of InMedica, added: “We are grateful for BaltCap’s support. It was a true strategic partnership that created value for both our clients and our shareholders. Today, we look forward to further growing and strengthening the business under the new ownership of experienced financial investor.”