July 2026 – Kinstellar has advised Provectus Capital Partners, a private equity investor focused on Southeast Europe, on its majority investment in a diversified private healthcare platform in Bulgaria, comprising the Haelan network of five outpatient medical centres, leading paediatric clinic First Children's Consultative Clinic, and two hospitals, Skin Systems and City Clinic St George. Together, these businesses employ approximately 650 professionals and generate more than EUR 20 million in annual revenues.
The transaction comprises a capital increase to support the healthcare group’s next phase of growth, alongside the partial sale of shares by the existing shareholders, led by Invenio, a private equity investor with a strong track record of building regional champions across Bulgaria, Romania and Serbia. The transaction is subject to customary regulatory approvals.
Kinstellar's Sofia office carried out due diligence and advised on local law aspects of the transaction, while the firm's broader team led on the transaction documents.
The team was led by Hugh Owen (Partner) and James Merryweather (Associate), with support from the Bulgarian team comprising Partner Nina Tsifudina, Senior Associates Nikolay Gergov and Debora Dineva, and Junior Associate Maya Demirova. Luxembourg counsel was provided by MOLITOR Avocats à la Cour.