On December 29, 2022, Sorainen announced that INVL Baltic Sea Growth Fund’s acquisition of Nemunas and Egles Sanatorija (reported by CEE Legal Matters on June 13, 2022) had closed.
Both transactions were closed following the receipt of regulatory approval from the Lithuanian Competition Council.
As previously reported, Sorainen had advised the INVL Baltic Sea Growth Fund on its acquisition of the Lithuanian treatment centers.
The INVL Baltic Sea Growth Fund is a private equity fund in the Baltics.
Nemunas is a treatment center in Birstonas, Lithuania. Egles Sanatorija is a SPA and treatment center in Lithuania that provides rehabilitation, rest, and medical services in Druskininkai and Birstonas.
"We are continuing to invest in this high-performing sector and look forward to further strengthening the leading position in the Baltic States, created by the shareholders, managers, and employees of the company," INVL Baltic Sea Growth Fund Partner Nerijus Drobavicius commented. "The healthcare sector in Lithuania and the entire Baltic region, as well as in other European Union countries, has a high potential for growth as society continues to pay more attention and puts more focus on health restoration and strengthening individual well-being. Due to its impressive quality offering an extensive range of healthcare services, the Egles Sanatorija brand has become probably the best known in Lithuania."
Sorainen's updated team was led by Partner Mantas Petkevicius and Senior Associate Laura Matuizaite-Mikste and included Partners Daivis Svirinas and Asta Augutyte-Rapkeviciene, Counsel Lina Ragainyte-Mezene, Senior Associate Edita Dauksiene, Associates Goda Drasute, Gabriele Raizyte, and Auridas Litvinas, and Assistant Lawyer Danas Sniute.