Naujienos

Lithuanian Private Equity and Venture Capital Association

LitCapital exits healthcare service provider Medicinos Paslaugų Grupė to Affidea

LitCapital, a dedicated private equity growth investor in the Baltics, has fully exited and closed the transaction of a share sale of UAB Medicinos Paslaugų Grupė (“MPG” or the “Company”) to Affidea. MPG is a leading private healthcare service provider in Lithuania with a presence in vaccination & occupational services (through affiliate UAB Endemik), diagnostic imaging and second level consultation clinics. This is the fifth exit from LitCapital I KŪB fund.LitCapital invested in MPG in 2015 to support its ambitious growth plan and finance substantial part of company’s investments in the equipment, service quality and brand strengthening. In addition to that, the investment allowed to acquire the oldest privately-owned laboratory test and vaccination market leader in Lithuania – Endemik UAB.„During a short period of more than three years MPG demonstrated impressive growth. Investments in the newest equipment, renovation of existing clinics and opening of modern new ones allowed to significantly improve service level and customer satisfaction. Now the company is ready for its new chapter and further growth with a support from international player – says Šarūnas Šiugžda, Founder and Managing Partner of LitCapital.Demand for high quality healthcare services in Lithuania has been growing at a healthy pace during the last few years. Ambitious management team with a focus on customer satisfaction and business efficiency has led to continuous improvements in the company’s financial results. Business revenues increased nearly by 50% and EBITDA grew by more than five times during the ownership of LitCapital. An exit process attracted strong interest from strategic and financial investors.Swedbank Investment Banking Lithuania acted as a financial adviser and TGS Baltic was a legal counsel to the seller. Law firm WALLESS was a legal advisor to the buyer.Earlier this year LitCapital exited Baltik Vairas. In 2017 LitCapital completed an exit from Brolis Semiconductors (optoelectronics. In 2016 LitCapital has divested its holdings in Putokšnis and Lignoterma, which also generated solid positive returns to LitCapital investors. In 2019 LitCapital launched a successor fund – an EUR 35M size LcX Opportunity Fund – with a very similar investment strategy.LitCapital is an independent professional private equity fund management company based in Lithuania. LitCapital was founded in 2010 and currently is managing a EUR 25M size growth capital fund LitCapital I KŪB. The fund was established under the JEREMIE initiative in cooperation with European Investment Fund (EIF) and is aimed at investing into expansion of private Lithuanian companies. LitCapital has invested in Lignoterma (renewable energy), Putokšnis (packaging), NNL LT (3PL), Brolis Semiconductors (technology), Baltik Vairas (e-bikes), Altechna (technology) and MPG (healthcare). In 2019 together with a group of investors LitCapital acquired controlling stake in AB “Audimas” (apparel retail & production) LitCapital currently is finalizing fundraising process of a successor EUR 35M LcX Opportunity Fund that will start its operations later this year.Affidea (www.affidea.com) is the leading European provider of diagnostic imaging, outpatient and cancer care services, operating in 256 centers across 16 countries in Europe. Affidea Group employs over 9000 professionals and performs more than 13 million diagnostic examinations every year. Affidea is the only healthcare provider that sits on the Imaging Board of IMB Watson and also at Microsoft Cloud. Due to its track record for patient safety, Affidea is the most awarded diagnostic imaging provider in Europe by the European Society of Radiology – over 50% of all the centers awarded on the Eurosafe Wall of Stars belong to Affidea. The company is owned by interests associated with the Bertarelli family which are advised by their business entreprise, Waypoint Capital.Affidea Lithuania (www.affidea.lt) is the leading diagnostic imaging (DI) services provider in Lithuania, operating in 11 DI centers, where more than 200 health care professionals are working. Each and every year Affidea Lithuania provides more than 140.000 exams, from which the great majority are magnetic resonance imaging exams (65 % of all MRI exams in Lithuania are provided in Affidea Lithuania centers). Affidea Lithuania Šiauliai center is the only DI center in Baltics which has 5 stars EuroSafe Imaging certificate for patients safety from European Society of Radiology.

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