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Repharm informed LETA that the group acquired shares in the above-mentioned companies from CGP Management.

The transaction has been conducted in line with the group's strategy, providing for expansion in European markets.

Repharm noted that the group has acquired the largest medical services operator in Lithuania with 33 clinics in 16 cities and towns, including Kardiolitos Klinika in Vilnius, which is the only private hospital in Lithuania.

In 2019, the clinics employed more than 1,400 employees and provided health care services to more than 128,300 patients. The aggregate turnover of the clinics in 2019 was EUR 32.7 million.

"Growth is important to us and we see an opportunity to expand our operations to provide healthcare services in other European countries," Dins Smits, the chairman of the management board at Repharm, said in the press release. "We have already announced a strategic goal to expand our business outside the Latvian market by constantly improving the quality of services and customer service," he added.

Repharm does not comment on the sum of the transaction.

Repharm was consulted by Baltic Partners, Superia, Cobalt and PricewaterhouseCoopers.

Repharm is a Latvian group of companies providing a wide range of healthcare services, from healthy lifestyle counseling to diagnosis and treatment. The group includes Sentar Farm Aptiekas pharmacies (Meness Aptieka), Veselibas Centru Apvieniba, Centrala Laboratorija, Rigas Farmaceitiska Fabrika and Recipe Plus. The beneficial owners of the company are several Latvian individuals.

In 2018, Repharm generated turnover of EUR 276.159 million, while the concern's profit was EUR 32.194 million.