Eglės Sanatorija acquires Vilnius-based provider of rehabilitation services
Eglės Sanatorija, a portfolio company of the INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltic region, has acquired Reabilita.lt, a provider of rehabilitation services in the Lithuanian capital Vilnius. Until now Eglės Sanatorija, which is the largest sanatorium treatment and medical rehabilitation centre in the Baltics, served customers only in Druskininkai and Birštonas.
“This is Eglės Sanatorija’s first day centre, which will offer procedures long valued by the medical spa’s customers for their important effects on the health-recovery process: therapeutic massages, therapeutic exercises, kinesiotherapy, and a range of physiotherapy procedures. We are investing in the day centre guided by years of experience supporting health and wellness, by our specialists’ high level of expertise and by our mission of helping people be healthier. We want to be closer to our customers so that they can focus more on recovering and improving their health and can continue treatment they began in Birštonas or Druskininkai in Vilnius and vice versa,” says Artūras Salda, the Director General at Eglės Sanatorija.
Reabilita.lt’s services currently include kinesiotherapy, therapeutic massage, physiotherapy, body aesthetics and physician consultations (in physical medicine and rehabilitation, kinesitherapy, dietetics, and psychology-psychotherapy). The centre has a team of 10 professionals.
“In the medical rehabilitation sector, we will concentrate on strengthening restorative medical treatment, medical and preventive rehabilitation. Access to these services is important as part of the overall health ecosystem. We want society to be healthy and productive, for people to be able to take good care of their health,” notes Nerijus Drobavičius, a Partner at the INVL Baltic Sea Growth Fund and the Chairman of the Board of Eglės Sanatorija.
A further EUR 100,000 of investment in equipment for the Eglės Sanatorija day centre in Vilnius is planned.
The Vilnius-based provider of rehabilitation services is the first add-on investment following the acquisition of Namita and Eglės Sanatorija at the end of 2022.
Established in 1972, Eglės Sanatorija provides post-acute-care treatment plus medical rehabilitation and wellness services for residents and guests of Lithuania in the resort towns of Druskininkai and Birštonas which are well-known for their mineral water springs and other attractions. The company’s medical spa in Druskininkai, which can accommodate up to 1,300 guests, is the largest such facility in all Northern Europe. The medical spa in Birštonas has a capacity of 730. Guests at the facilities are offered a wide variety of therapeutic and wellness procedures, from traditional mud and mineral water practices to innovative physiotherapy and kinesitherapy techniques and a range of additional activities.
The INVL Baltic Sea Growth Fund, together with its co-investors, owns 100% of the shares of Namita, the company that owns Eglės Sanatorija.
About INVL Baltic Sea Growth Fund
With a size of EUR 165 million, the INVL Baltic Sea Growth Fund is a leading equity fund in the Baltics. The European Investment Fund (“EIF”) is its anchor investor.
The EIF, which is a part of the European Investment Bank, has committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or ‘Junker Plan’) whilst also allocating resources from the Baltic Innovation Fund, a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia. The initiative aims to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics.
The fund seeks to assemble a diversified portfolio of companies, targeting majority or significant minority stakes through investments ranging from of EUR 10 million to EUR 30 million. These companies must demonstrate high growth potential and an ability to succeed in conditions of increasing global competition and market volatility.
The fund is focused on the Baltic countries and neighbouring regions including Poland, the Nordics, and Central Europe. The fund has invested in seven companies to date, focusing on sectors including healthcare, medical rehabilitation, civil engineering, environmental management (plastic recycling and waste management), veterinary services, and the manufacturing of cosmetics and hygiene products.
The fund is managed by INVL, the leading Baltic investment management and life insurance group. The group’s companies manage pension and mutual funds, life insurance directions, individual portfolios, private equity as well as other alternative investments. More than 300,000 clients in Lithuania, Latvia and Estonia plus international investors have entrusted the group with the management of over EUR 1.75 billion of assets. With a track record spanning 30 years, the group has strong expertise and experience in managing private equity assets and building true market players that are leaders in their respective fields in the Baltic countries and across Central and Eastern Europe.
