LitCapital closes a follow-on investment in Medicinos Paslaugų Grupė


LitCapital, a dedicated growth capital investor in the Baltics, has made a follow-on investment in Medicinos Paslaugų Grupė (MPG). MPG is on track in successfully executing its growth strategy. Additional capital will be used to further expand company’s activities in medical diagnostic imaging services business line and support growth of occupational healthcare and vaccination service provider Endemik.

Since the initial investment MPG has invested heavily in its group companies. Substantial resources were directed to open new clinics under Endemik brand and acquire newest equipment at MCT Kompiuterinė Tomografija. Total current follow-on investment including bank lending exceeds EUR 2M.

“Our initial investment thesis that local healthcare service market is expected to grow and consolidate at a fast pace proved to be correct. Increasing health awareness, growing disposable income and focus on prevention makes this opportunity particularly attractive” – says Sarunas Siugzda, LitCapital Founder & Managing Partner.

Consolidated revenue of MPG was nearly EUR 5M in 2016 and is expected to grow by at least 30% during the next few years. LitCapital made its first investment into the company in the beginning of 2016 and is looking forward to further support the development of the business.

LitCapital is a growth capital fund, established in cooperation with European Investment Fund in 2010 under the JEREMIE initiative. The Fund size is EUR 25 million and it invests in small-medium size enterprises in Lithuania. The Fund is aimed at long term investments in the authorized capital of private enterprises seeking their faster growth and expansion. Investment size into one company ranges from EUR 1M to EUR 3.75M. A typical investment horizon is around 4-6 years.