Regions

Germany-based synlab acquired Medicap Holdings, a healthcare service specialist, from Baltcap for an undisclosed amount. The acquisition represented private equity firm Baltcap's most recent successful exit.

With the acquisition, synlab managed to expand its reach in Europe. Most importantly, it holds the distinction as the first laboratory chain to penetrate the Baltic region.

Dr. Bartl Wimmer, synlab CEO, said the new investment will strengthen their position as the market leader in laboratory network in all of 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," he said.

Medicap Holding, operating through brand names Quattromed and Sorpo, has an established clientele in Lithuania, Estonia and Finland. It employs over 200 workers and services over five million lab tests each year.

"The transaction is a compliment to what Medicap companies have achieved so far," Rainar Aamisepp, CEO of Medicap, said in a statement. "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."