"Südamekodud AS is seeking opportunities to invest in the development of care facility infrastructure and service providers in Latvia and Lithuania," the company said in a statement. "In Estonia, Südamekodud AS works closely with EfTEN Capital AS, where real estate funds managed by EfTEN own the care home properties and Südamekodud operates the care service companies. Both parties believe that the cooperation model already functioning in Estonia could be extended to the Latvian and Lithuanian markets."

The company said plans in both Latvia and Lithuania include investments in care infrastructure, the construction of new elderly care homes and the renovation of existing facilities.

"In recent years, Südamekodud has made consistent investments in developing high-quality elderly care services, created new jobs and significantly increased the number of care home places in Estonia," said Martin Kukk, chair of the Südamekodud supervisory board.

"Today, there are 12 Südamekodud facilities in Estonia with more than 1,200 places for elderly residents. Over 500 people work at Südamekodud. Investment decisions have already been made to create around 500 additional care home places in Estonia," Kukk said.

EfTEN Real Estate Fund AS was the first real estate fund in the Baltics to invest in care homes and has been doing so for more than five years. The fund currently owns four care homes in Estonia in cooperation with Südamekodud.

Südamekodud and EfTEN Capital see their planned partnership as a strategic opportunity to develop modern care institutions that meet the needs of aging populations while also supporting local economies through job creation and investment.

Südamekodud care homes operate in Tartu, Käru, Piigaste, Lihula, Värska, Saaremaa, Kunda, Kohtla-Järve, Valkla, Paide and in Tallinn's Merivälja and Pirita districts. Construction is also set to begin in the Hiiu district of Tallinn, where Nõmme Südamekodu will become the group's 13th care home, offering a safe and modern residence for 170 elderly people.

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