COBALT represents the INVL Baltic Sea Growth Fund, a private equity fund of INVL Asset Management, one of Lithuania’s leading asset management companies, in its indirect purchase of a 70% stake in the InMedica chain of primary health care centres. BSGF Sanus, a company 100% owned by Invalda INVL, is purchasing 70% of the shares in the chain of medical clinics.
The INVL Baltic Sea Growth Fund completed the acquisition of a 70% stake in the InMedica health care clinics chain. The transaction, whose value is not being disclosed, was completed after the permission of the Competition Council was obtained and other contractual terms were fulfilled.
InMedica is a chain of personal health care institutions offering services in various cities of the country. InMedica has been operating a network of 18 clinics. In 2017, the company had revenue of EUR 6.9 million.
“We rate this company as one of the strongest players in its market in the country. We think private healthcare has big growth potential in both Lithuania and the other Baltic countries, and we will seek to create a leading company in that sector,” said Nerijus Drobavičius, Partner of INVL Baltic Sea Growth Fund and Director of BSGF Sanus.
Launched in June of this year, the INVL Baltic Sea Growth Fund seeks to invest in medium-size companies with an attractive risk-return ratio, providing them with capital for further growth. In its investments, the fund will focus on taking controlling or significant minority stakes and will play an active role in the management of target companies, aiming to significantly increase their value over the long term. The fund will seek to form a diversified portfolio of Baltic Sea region companies and will focus on growth capital, buyout, and “buy and build” investments. The INVL Baltic Sea Growth Fund will make investments of EUR 10 million to EUR 30 million in mature companies that can compete on global markets and have big potential for growth in value.
COBALT represents the INVL Baltic Sea Growth Fund in all transaction-related matters, including conduction of legal due diligence, drafting of transaction documents, representing the client in negotiations, advising on tax related issues, coordinating communication with competition authorities and providing all other necessary legal assistance. The project is led by Elijus Burgis, Partner at COBALT, and by Inga Mažvilaitė, Senior Associate. The project team also includes Rokas Daugėla, Head of the Tax Law Practice Group, Lukas Pultaražinskas, Associate Lawyer, Rasa Zaščiurinskaitė, Head of the Competition Law Practice Group, and Samanta Šereikaitė, Associate Lawyer.