BaltCap Cleared to Acquire Majority Stake in Dental Invest

The Estonian Competition Authority has cleared the Baltic venture capital investor BaltCap to acquire a 56 per cent stake in the Estonian dental care company Dental Invest Estonia (DIE), informs LETA/BNS.


BaltCap Private Equity Fund II has agreed to invest in the DIE group through new equity issue, acquiring a 56 per cent ownership stake. The management team and the key doctors will own 44 per cent of the shares, BaltCap said in a press release.

Previously, the company Testfilm owned 61.5 per cent of the shares in DIE.

BaltCap Private Equity Fund II makes equity investments in innovative companies based in the Baltic region focusing on buy-and-build opportunities. The fund was established in cooperation with the European Investment Fund involved in the project through the Baltic Innovation Fund (BIF). The BIF is an initiative created by cooperation between Estonia, Latvia, Lithuania and EIF.

DIE is the leading dental care company in Estonia with 12 clinics and 190 employees. Its main subsidiaries are Ortodontiakeskus OU, Dental Design OU and Dental Export OU. In March 2015, DIE opened a new state-of-the-art clinic at Tallinn. The group plans to launch a similar new clinic also in Tartu next year.