The INVL Baltic Sea Growth Fund, a private equity investment fund focused on the Baltic region, has acquired medical treatment facilities in Birštonas and Nemunas, along with Eglės Sanatorija, the largest rehabilitation and post-acute care treatment center in Lithuania.
Founded in 1972, Eglės Sanatorija specializes in offering post-acute and recovery treatments, medical rehabilitation, and wellness services to both Lithuanian residents and international patients. The facilities are situated in the renowned resorts of Druskininkai and Birštonas.
Renowned for their mineral water springs, both Druskininkai and Birštonas host Eglės Sanatorija facilities. The Druskininkai center stands as the largest in Lithuania and Northern Europe, capable of accommodating up to 1,300 guests concurrently, while the premises in Birštonas can host up to 730 guests.
Visitors can indulge in a diverse range of therapeutic and wellness procedures at Eglės Sanatorija, including traditional mud and mineral water therapies, as well as physiotherapy and kinesiotherapy procedures.
Before the pandemic, a substantial portion of Eglės Sanatorija's clientele consisted of foreign tourists. The majority of its income is derived from commercial revenues, supplemented by financing from regional health insurance funds for certain services. In the previous year, the combined revenue of the Nemunas Functional Diagnostics and Rehabilitation Center and Eglės Sanatorija amounted to €23.4 million (US$24.9 million), employing a workforce of over 700 individuals. Anticipating growth, they project consolidated revenue to exceed €30 million in 2022.
Future plans include additional investments in project development, focusing on renovating old sanatorium buildings to enhance energy efficiency. The goal is to adapt these refurbished premises to introduce new procedures and services, further enriching the offerings at Eglės Sanatorija.
Nerijus Drobavičius, Partner at INVL Baltic Sea Growth Fund, expressed, "We are committed to investing in this high-performing sector and are eager to further solidify our leading position in the Baltic States. The groundwork laid by the shareholders, managers, and employees of the company has established a strong foothold. The healthcare sector in Lithuania, the Baltic region, and the broader European Union presents significant growth potential, driven by an increasing societal emphasis on health restoration and individual well-being. With its exceptional quality offerings and extensive healthcare services, the Eglės Sanatorija brand is widely recognized in Lithuania. We are excited about the prospect of a new chapter of growth as we venture into 2023 in partnership."
Source : www.imtj.com