BaltCap invests in Lithuanian healthcare sector
BaltCap, the largest private equity and venture capital investor in the Baltic countries, completed a growth capital investment in Seimos Medicinos Klinika (“SMK”), an operator of primary care and family doctor clinics in Lithuania. This is the second investment completed by BaltCap’s Lithuania SME Fund this month.
Established in 2004, the Company operates 6 primary care clinics in Taurage, Marijampole, Lentvaris and three residential areas of Vilnius (Riese, Dvarcionys and Lazdynai). Across the chain, SMK has more than 17 thousand registered patients and employs 100 doctors and other professionals.
“We have identified private healthcare services in Lithuania as a strong and sustainable growth opportunity and believe that SMK, with its track-record of medical excellence, strong management and well-established corporate governance, represents an attractive consolidation platform in this market,” said Kornelijus Celutka, Investment Director at BaltCap.
Rusanda Pajediene, Director of SMK said: “We welcome the investment by BaltCap, whose financial backing combined with industry expertise should support SMK’s next phase of growth, both organically, and by making acquisitions in a very fragmented market.”
Lithuania SME Fund is a growth capital fund organized by BaltCap in 2010 as part of the JEREMIE initiative in Lithuania. JEREMIE Holding Fund managed by the EIF is financed from the EU Structural Funds under 2007-2013 Economic Growth Operational Programme. Total size of Lithuania SME Fund is EUR 20 million and it provides growth equity financing up to EUR 3 million per company for small- and medium-sized enterprises based in Lithuania.
Earlier, Lithuania SME Fund has invested into Ygle, building engineering systems solution and service provider, Impuls LTU, the largest health club operator in Lithuania, YP MobileWorks, mobile commerce company.
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