The network of veterinary clinics “Invitro” has changed its owner

After Alexander Ostrovsky, the founder of Invitro, left the business, changes continue in the company’s structures. The network of veterinary clinics Vet Union, developed by the medical holding, passed to Dmitry Kokin, the main owner of A-Telematics, a supplier of equipment for Russian Railways. There are not many high-quality veterinary clinics, so this segment attracts investors, experts say.

The information that Dmitry Kokin became the sole owner of Vet Union LLC, the operating company of the Vet Union veterinary clinic network, which is part of Invitro, was found by Kommersant in the Unified State Register of Legal Entities. He also received 74.9% in Proactiv Inform, which managed the medical Internet television channel Med2Med and other Invitro media projects (the registration of these media outlets was terminated by Roskomnadzor by decision of the founders), and 76% in Raritas Tera, which, apparently , is a technical legal entity of the holding. The remaining shares in these structures were transferred to Roman Mironchik. It was not possible to contact Roman Mironchik and Dmitry Kokin.

Mr. Mironchik became the main owner of the parent structure “Invitro”, which is also developing a network of medical laboratories of the same name, less than a month ago (see “Kommersant” dated July 20). The founder of the company Alexander Ostrovsky left it. In August, the Invitro Holding Company, founded by Roman Mironchik, became the head structure of the company (now the details of the founders are hidden).

Mr. Kokin, through Simple LLC, owns 51% in A-Telematics, a developer and supplier of equipment for Russian Railways. He is also a partner of Dmitry Afanasenko, a former member of the board of directors of Mostotrest, Arkady Rotenberg. Mr. Afanasenko owns 49% of the Telematics holding, which, in turn, includes A-Telematics. In 2015-2017, 45% of the holding belonged to Igor Rotenberg, the son of billionaire Arkady Rotenberg.

Kommersant’s sources previously said that the new owners of Invitro may be associated with the Rotenberg family. However, a representative of Arkady Rotenberg told Kommersant that the businessman’s family had nothing to do with the deal with the company.

The Vet Union network includes three veterinary clinics and a laboratory complex for animals. In 2022, the company’s revenue, according to SPARK, amounted to 494.4 million rubles, a loss of 22 million rubles. DSM Group CEO Sergey Shulyak estimates the network’s current value at 200-250 million rubles.

There are not so many high-quality veterinary clinics and they are of interest to investors, says Sergey Sereda, president of the Russian Association of Practicing Veterinarians and founder of the Center veterinary clinic. According to him, having his own laboratory increases the value of the asset, as it reduces the cost of analysis and improves convenience for customers.

The demand for such services is also growing. According to BusinesStat estimates, the number of paid veterinary services for pets in Russia increased by 9.4% in 2018-2022 to 37.4 million. The overall increase in the number of pets in the country contributed to the growth of the veterinary market, analysts say. In the first quarter of 2023, according to Rosstat, such services were provided for 3.3 billion rubles, which is almost 2% higher year-on-year.

Dmitry Gabyshev, managing director of Peregrine Capital, suggests that Dmitry Kokin could partially finance the deal to buy Invitro’s main business and the loan he issued was converted into a stake in other holding structures. In his opinion, Roman Mironchik may not be the only ultimate beneficiary of Invitro, having acquired this asset as part of a consortium of investors. Gazprombank could also participate in financing the transaction, which, according to SPARK, is now 100% pledged, including the parent structure Invitro. The bank did not respond to Kommersant’s request.

Polina Gritsenko