PE Tech Report


Like this article?

Sign up to our free newsletter

BaltCap exits Quattromed laboratories with synlab sale

BaltCap, the Baltic-focused private equity firm, has sold Medicap Holding to synlab, a European provider of laboratory services.

synlab has acquired 100 per cent of Medicap Holding, which owns Estonian, Finnish and Lithuanian laboratories operating under the Quattromed and Sorpo brand names, from BaltCap and individual shareholders.
By acquiring operations in three new markets, synlab further expands its footprint in Europe and becomes the first international laboratory chain to enter the Baltic markets.
Dr Bartl Wimmer, chief executive of synlab, says: “We are very pleased to add Quattromed and Sorpo labs to the synlab group. The acquisition will strengthen our position as the leading laboratory network in Europe. We have followed the development of these companies for several years and have been impressed by the achievements of the company and its management team.”
BaltCap’s managing partner Peeter Saks says: “We carried out our original investment hypothesis and executed a regional buy and build strategy, growing the company’s revenues by more than four times since 2008. We are pleased that Medicap has now been acquired by an international lab chain with a vision to continue developing and growing the business.”
Rainar Aamisepp, chief executive of Medicap, adds: “The transaction is a compliment to what Medicap companies have achieved so far. I am convinced that together with synlab we will be able to develop our customer-focused services and market penetration further in both Finland and the Baltic States.”
Medicap Holding, consisting of Quattromed HTI in Estonia, Sorpo in Lithuania and Quattromed Finland, has a strong position among private medical laboratories in these markets. The group has more than 200 employees and provides more than five million laboratory tests per year to general practitioners, medical institutions and private individuals.
The buyer’s advisers were law firms CMS Hasche Sigle and Borenius, and audit firm Ernst & Young. The sellers were advised by law firm Red, Attorney at Law.

Like this article? Sign up to our free newsletter




Blackstone Private Equity