INVL Baltic Sea Growth-backed InMedica completed the merger with MediCA.

INVL Baltic Sea Growth-backed InMedica, a private network of healthcare clinics in Lithuania, completed the merger with MediCA, a human size multinational company designing and manufacturing a wide range of medical devices. Financial terms were not disclosed. “The core mission statement of INVL Baltic Sea Growth Fund, our private equity platform, is to provide capital support and operational expertise to local companies to help them achieve their ambitious strategic growth plans. We invested in InMedica back in 2019 when the company was generating ~€10m in revenues. We are, therefore, pleased that after only 3 years of working alongside founder and CEO Kęstutis Broniukaitis, together we have significantly increased the number of active clinics practising, both organically and through bolt-on acquisitions, and now managed to agree with Repharm, the most successful healthcare group in Latvia, to merge our Lithuanian businesses. We are confident that this partnership will ultimately lead to more services being offered to patients," Nerijus Drobavičius, INVL Partner.