Estonia, Investments, Legislation, Markets and Companies, Medicine

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 13:18

Baltcap cleared to acquire majority stake in Estonian Qvalitas medical center

BC, Tallinn, 17.06.2016.Print version
The Baltic venture capital investor Baltcap was given permission on June 16th to acquire through the holding company Dencap a 72% stake in the Estonian occupational health care company Qvalitas Arstikeskus, informs LETA/BNS.

The Estonian Competition Authority on Thursday made a decision as a result of which Baltcap Private Equity Fund II (BPEF II) can through the holding company in which it has a nearly 94% stake acquire 72% of Qvalitas. The remaining 28% of the shares are held by the management team. In addition, CEO of Unimed Group Erki Molder has an around 5-6% stake in the holding company carrying out the transaction. The parties have agreed to not disclose the price of the transaction.

 

"Occupational health care is a continuously developing area of medicine. People's awareness of the importance of preventive medicine is growing and occupational health care plays an important role in preventing damage to health," Martin Kodar, a managing partner of Baltcap, said at the end of May, adding that Qvalitas is a well managed company and a leader in its market segment.

 

"We know that Baltcap has made successful investments in health care in the past and therefore I am certain that we have found the right partner to continue developing our company. We also see positive opportunities to cooperate with Unimed Group companies," CEO of Qvalitas Tonu Velt said.

 

Established in 1996, Qvalitas provides occupational health care as well as general and specialized medical services in major Estonian cities and through mobile health care units. Among its clients are numerous large Estonian companies. Last year the company performed more than 60,000 different health checks. The new investor will support the company's strategy and invest in the development of new business areas.

 

In November 2015, Baltcap announced BPEF II's first investment in the health care sector – acquisition of a majority stake in the privately owned medical company Unimed Group (previously Dental Invest Estonia). Unimed clinics provide services in the fields of orthodontics, dentistry, dental labs, specialized medical care and sleep disorder treatment. Following the current transaction, Qvalitas and Unimed Group become sister companies.

 

Baltcap Private Equity Fund II makes equity investments in innovative companies based in the Baltic region focusing on buy-and-build opportunities.






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