InMedica raised EUR 3 million in the first round of the bond offering

InMedica, a medical clinic network, has finished the first round of bond distribution to investors and successfully signed bonds for EUR 3 million. The bonds come into effect on 16 December 2019 and their redemption day falls on 16 December 2021. The annual interest rate of the bonds is set at 5.5%.

A total of EUR  5 million is expected to be raised through the bond distribution organized by Šiaulių Bankas AB. The second round will be run until 13 March 2020. The publicly traded bond issue is used to finance the acquisition of new development projects, other clinics, and refinancing of existing debt.

“Demand for bonds exceeded expectations - during the first stage of the offering, we planned to raise EUR 3 million, therefore not all investors' applications have been satisfied. We are delighted to be the first in the Lithuanian medical sector to take advantage of alternative financing opportunities offered by capital markets”, said Laura Penikienė, CEO of InMedica.

According to the company, more than 120 investors purchased the bonds during the first stage. The company plans to include the bonds in First North, an alternative securities market managed by Nasdaq Vilnius, within the next 6 months. Certified Advisor for Bonds - Sorainen & Partners law firm.

Today InMedica operates a network of 19 clinics in various cities across the country providing family medicine, physician, dental and other healthcare services. More than 70 thousand registered clients make InMedica one of the largest private medical centres in Lithuania with over 600 employees. In 2019, InMedica opened a modern day-surgery centre, further expanding the range of services available to its patients. InMedica's total revenue is expected to exceed EUR 12 million in 2019 (30% more than in 2018).