02/07/2019

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.