Nasdaq (Nasdaq: NDAQ) announces that a second issue of InMedica Bonds has been admitted to trading on the Nasdaq Baltic First North Market by Nasdaq Vilnius effective February 17, 2022.
The size of InMedica’s second bond issue is 8 million euros. The bonds have a nominal value of EUR 100 each, a duration of 2 years and an annual interest rate of 5% with interest paid twice a year. They mature on December 18, 2023. The debt securities attracted significant investor interest – 127 natural persons and 17 legal persons purchased the bonds. The group will use the funds raised as part of the offer to refinance 5 million euros of previous issues as well as to expand its network of clinics, acquire modern equipment and recruit specialists.
InMedica is one of the largest private healthcare providers in Lithuania and currently operates a chain of 36 clinics in several cities. The company offers diagnostic, outpatient, surgical, dental and other medical services. The InMedica group includes 22 family medicine centers, 4 generalist clinics and 3 specialized cardiology clinics, 6 walk-in clinics, 3 laboratories and 1 plastic surgery clinic.
“We welcome InMedica’s listing of a second bond issue on the Nasdaq Baltic First North Market,” said Saulius Malinauskas, Chairman of Nasdaq Vilnius. “We wish the company every success in its future growth, delighted that Nasdaq Baltic’s First North alternative market will help it achieve its ambitions.”
“This is the second successful bond issue for our network of clinics, which shows that the company and its activities have earned the confidence of investors. Despite the great challenges of the pandemic, the healthcare sector is growing and is transforming, and with the changes come new opportunities Investors obviously see these opportunities with a positive eye,” said InMedica CEO Kęstutis Broniukaitis.
The public issue of corporate bonds was distributed by Šiaulių Bankas. Sorainen Law Firm is the company’s certified advisor on First North.
The InMedica Group has over 1,000 employees and provides healthcare services to over 100,000 registered patients. Its turnover in 2020 was almost 18 million euros. As of February 2019, 70% of InMedica shares are owned by INVL Baltic Sea Growth Fund, one of the largest private equity investment funds in the Baltic region, through the fund’s subsidiary OSGF Sanus.
About the Baltic Sea Growth Fund INVL
The EUR 165 million INVL Baltic Sea Growth Fund is one of the largest private equity funds in the Baltics and has the European Investment Fund (EIF) as lead investor. The EIF, part of the European Investment Bank, has committed €30 million with support from the European Fund for Strategic Investments (a key part of the Investment Plan for Europe, or ‘Junker Plan’) ) while 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 small and medium-sized enterprises with high growth potential in the Baltic countries.
The fund aims to build a diversified portfolio, targeting significant majority or minority stakes through investments of €10-30 million in companies that demonstrate strong growth potential and an ability to succeed in competitive conditions. growing world. The fund focuses on the Baltic countries and neighboring regions, including Poland, the Nordic countries and Central Europe. The fund has so far invested in five companies in the healthcare, civil engineering, environmental management (plastic recycling and waste management) and cosmetic and hygiene product manufacturing sectors.
The fund is managed by one of Lithuania’s leading asset management companies, INVL Asset Management, which is part of the Invalda INVL group. Group companies manage pension funds and mutual funds, individual portfolios and private equity and other alternative investments. More than 250,000 clients in Lithuania and Latvia and international investors have entrusted the group with more than 1.5 billion euros in assets under management. Active since 1991, Invalda INVL has a solid 30-year track record in managing private equity and growing companies into market leaders in the Baltics and CEE.
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