Luminor Co-finances Merger of Lithuania’s Largest Medical Institution Networks

  • 2022-03-30

InMedica has acquired MediCA Group, one of the largest medical service networks in Lithuania, with co-financing from Luminor bank, bringing together the two largest private medical networks in Lithuania. Upon completion of the transaction, Repharm AS will become one of the shareholders of the new network.

“The pandemic has made us appreciate even more the importance of access to high-quality health services. We are therefore pleased to support InMedica’s expansion in the Baltic market by providing a loan to promote access to professional and high-quality medical services, thus contributing to improving the health of the Baltic population,” said Ilze Zoltnere, Head of Luminor Corporate Banking in Latvia.

MediCA Group is owned by the Latvian healthcare group Repharm AS, while InMedica’s largest shareholder is INVL Baltic Sea Growth Fund, one of the largest private equity investment fund in the Baltic region.

MediCA Group includes 33 medical institutions, three of which are specialized clinics, while the other 30 are outpatient clinics operating in 16 Lithuanian cities. InMedica owns 37 medical institutions throughout Lithuania, providing diagnostics, outpatient care, surgery, dentistry, and other medical services. Following the merger of the private medical networks, the union of medical services institutions will operate in 20 Lithuanian cities, serving more than 250,000 patients, providing all three levels of services – from general practitioner consultations to complex heart surgery.

“For us, this is the beginning of major changes. This step opens up an opportunity to start implementing a qualitative transformation of both healthcare networks, which will ensure the possibility to take even better care of patients throughout Lithuania. State-owned clinics have made significant investments in recent years into improving service quality, and simultaneously, new clinics are actively being opened by private players. We aim to continue this trend of being highly competitive in terms of both service quality and accessibility while also being an attractive place of work for doctors and healthcare professionals alike. We will focus on improving service quality, including the continued purchasing of modern state-of-the-art equipment, the development and refurbishment of premises.” Kęstutis Broniukaitis, CEO of InMedica, acknowledged.