The chain of medical clinics InMedica has purchased a private Saulius Vikšraitis’ Plastic Surgery Center in Kaunas, which provides plastic and reconstructive surgery services. According to InMedica, this investment reflects on the extremely fast-growing demand for these services in the market.
“As the range of medical service offering is being expanded, we can clearly see the growing demand for plastic and reconstructive surgery services in the market. Saulius Vikšraitis’ Plastic Surgery Center is one of the first private plastic surgery clinics in Lithuania, and its founder is one of the most experienced surgeons in the market, a pioneer of facial aesthetic endoscopic surgery in Lithuania. We are glad that the company will join the InMedica group, while Dr. Saulius Vikšraitis, the leading doctor of plastic and reconstructive surgery, will continue to work in the clinic, sharing his experience with both – new plastic surgeons joining the clinic and promising doctors already working for the group. We are grateful for such confidence,” Kęstutis Broniukaitis, CEO of InMedica, comments on the future merger.
Saulius Vikšraitis’ Plastic Surgery Center has become the 35th healthcare institution in the country belonging to the InMedica network, including 12 clinics in Vilnius, 8 clinics in Kaunas, and 15 clinics in other Lithuanian cities. This is InMedica’s first investment in the field of plastic surgery in Kaunas. To date, the network of clinics has provided such services in Vilnius only.
InMedica has acquired 100 percent of the shares of Sauliaus Vikšraičio plastinės chirurgijos centras UAB from the founder of the center, Dr. Saulius Vikšraitis. The center provides services in the areas of plastic and aesthetic surgery, aesthetic and laser dermatology, functional and aesthetic orthopedics as well as functional rhinology.
“The longevity of a successful business is determined by timely decisions. I believe that this agreement will lead the business that was fostered for decades down the path of great success during the ongoing development. We expect the SV Plastic Surgery Center to become an even more open and attractive clinic for young, talented plastic surgeons and specialists to grow and gain experience. To me personally, this is an opportunity to step down from an administrative position, which will allow me to focus all my time and attention on the quality of medical services, patient care, and the implementation of innovative solutions in the field of surgery. Partnering with the InMedica group will also benefit our clinic’s patients – we will be able to offer more coordinated medical care, thus becoming even more flexible and ‘closer’ to our patients. I believe that with the help of InMedica we will be able to offer medical services to foreign patients more actively and effectively, using our existing competencies and financial resources for the development of medical tourism,” says Dr. Saulius Vikšraitis.
Saulius Vikšraitis (SV) Plastic Surgery Center was established in 1992. The company currently has 33 employees. Last year the company’s turnover amounted to EUR 1.58 million.
About InMedica
With a network of 35 clinics in several cities, InMedica is one of the largest private medicine centres in Lithuania. InMedica provides diagnostic, outpatient, surgery, dentistry and other medical services. InMedica group consists of 21 family medicine centres, 4 broad-profile hub clinics, 4 specialized clinics, 6 walk-in clinics and 3 laboratories.
InMedica group has more than 1000 employees and provides healthcare services to more than 100,000 registered patients. In 2020 the Group received revenue of EUR 18.0 million. Since February 2019, 70% of the shares of InMedica are owned by INVL Baltic Sea Growth Fund, one of the largest private equity investment funds in the Baltic States, through its subsidiary BSGF Sanus.
About INVL Baltic Sea Growth Fund
INVL Baltic Sea Growth Fund with its total size of EUR 165 million is one of the largest private equity funds in the Baltics with the European Investment Fund (EIF) acting as its anchor investor. The EIF, which is a part of the European Investment Bank, has committed EUR 30m with the support of the European Fund for Strategic Investments, a key element of the Investment Plan for Europe (or the ‘Junker Plan’), as well as allocating resources from the Baltic Innovation Fund, the “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia. This aims to increase capital investment in high growth potential small and medium-sized enterprises in the Baltic States.
The Fund seeks to assemble a diversified portfolio of companies, targeting majority or significant minority stake deals and writing tickets of EUR 10 million to 30 million, that showcase high growth potential and the ability to compete on a truly global basis. The Fund is focused on the Baltic States and the neighbouring regions of Poland, Scandinavia and Central Europe specifically. The Fund so far has invested in four companies within the healthcare, civil engineering and environment management (plastic recycling and waste management) sectors respectively.
The Fund is managed by one of Lithuania’s leading asset management companies INVL Asset Management, which is part of the Invalda INVL group. The group’s companies manage pension and mutual funds, alternative investments, individual portfolios, private equity assets, and other financial instruments. Over 250,000 clients in Lithuania and Latvia and international investors at the end of the third quarter of 2021 have entrusted the group with more than €1.5bn of assets under management. Active since 1991 and with a solid track record, Invalda INVL boasts 30 years’ worth of experience in managing private equity assets in the Baltic countries and CEE landscape while developing companies into best-in-class market leaders.