IFP Corporate Finance advised the shareholders of MPG (Medicinos Paslaugu Grupe), leading Lithuanian private clinics chain, on raising equity financing from LitCapital
MPG consists of a number medical service companies with strong market position in radiology examination and secondary level doctor consultation segments. MPG has an ambitious growth plan on the agenda and plans substantial investments in the equipment, service quality and brand strengthening. In addition to that MPG, plans to invest in the oldest privately owned laboratory test and vaccination market leader in Lithuania - Endemik UAB.
It is expected that the backing by LitCapital will allow MPG to significantly broaden its service offer and business geography. It is planned that soon MPG will be present in seven largest cities in Lithuania and will have 180 employees. MPG plans to reach turnover of EUR 4 M in 2016.
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 1 M to EUR 3.75 M. Typical investment horizon is around 4-6 years.