PRONATAL has helped over 50,000 children come into the world
Interview on the future of reproductive medicine, the group's expansion in the Balkans, and the growing international demand for Czech reproductive care.
Healthcare investment · Central & Southeast Europe
Healthcare investment, built by practitioners.
A privately held investment group focused on healthcare and adjacent sectors across Central and Southeast Europe.
We invest our own capital. We are not a fund. We are not looking for a quick exit.
Flash Capital Group owns and builds companies in healthcare and related sectors, from the Baltic to the Adriatic.
The group is founded and led by a physician and combines clinical and operational experience with a long-term approach to ownership. We grow both organically and through acquisitions — always so that each company keeps its own expertise, while we add stability, capital and a long-term horizon.
The group at a glance
30+
years of experience
1996
founded
5
countries
17
clinics
1
own genetics laboratory
Three sectors. One long-term owner.
Assisted reproduction, comprehensive women's health and medical distribution — built and held for the long run.
Explore the group →The Group
A family business that grew into an international healthcare group.
Who we are
We began as a Czech family business with one conviction — that healthcare should be expert, humane and accessible.
Over more than two decades, a single field of medicine grew into a group active in five countries, caring for patients from across Europe. We grow both organically and through acquisitions, always so that each company keeps its own expertise while we add stability, capital and a long-term horizon.
As the holding company, we steward the cooperation and development of every company in the group and create room for it to grow further — organically and through acquisition.
Founder
Built by a physician, run with a long horizon.
The group was founded and is led by Dr. David Karásek, a physician and healthcare entrepreneur with more than three decades of experience in the field. From a single reproductive medicine practice he has built an international group spanning five countries, while keeping the founder-led, family character of the business intact.
What started in Czech Republic in 1996 has grown into a network of clinics, a genetics laboratory and a medical distribution arm — held together by a long-term view of ownership and a belief that healthcare is built person by person, doctor by doctor, year after year.
Dr. David Karásek
Founder & Chairman
Read how the media writes about him →
Three pillars
What we own and build.
01
Assisted reproduction
Where the group has its roots.
More than three decades of treating infertility and helping families begin — from a single practice in Prague to a network of clinics across Central and Southeast Europe, supported by the group's own genetics laboratory. Since 1996, over 50,000 children have been born thanks to PRONATAL.
02
Comprehensive women's health
Care across the spectrum.
Gynaecology, prenatal diagnostics and reproductive medicine under one roof — building on the same standard of care that defined the group from the start, now extended into Poland, the largest market in Central Europe.
03
Medical distribution
A regulated, durable vertical.
An authorised distributor of pharmaceuticals in the Czech Republic, fully licensed by SÚKL and ISO-certified. Complements the clinical business with a stable, regulated and hard-to-replicate component, and closes the group's value chain.
Prag Emporion · Czech Republic
Where we are
From the Baltic to the Adriatic.
Main centres Czech Republic network Active markets — 17 clinics across 5 countries
Approach
We back and build healthcare businesses we understand from the inside.
Three principles shape how we evaluate, acquire and run the companies we own.
Practitioner-led
The group was founded and is led by a physician. We look at healthcare from inside the clinic, not only the spreadsheet — which shapes how we evaluate, acquire and run our businesses.
Long-term ownership
We invest our own capital and take a long-term view of ownership and value creation, without the constraints of a fund life cycle.
Operators, not only allocators
We work alongside management on strategy, finance and M&A. Our role is to build durable companies, not simply to hold positions.
Media
Dr. David Karásek in the media.
Dr. David Karásek is a physician, entrepreneur and founder of Flash Capital Group. He is a long-standing voice in Czech media on reproductive medicine, fertility, healthcare and the development of private medical care. His interviews, podcasts and public appearances offer a perspective on where the field is heading — and the practical challenges patients face today.
- Physician
- Former anesthesiologist
- Healthcare entrepreneur
- Founder of Flash Capital Group
- 30+ years of experience in healthcare
Interviews & articles
Selected coverage.
2025
Conception problems can be treated. IVF is the last resort.
A personal and professional conversation on infertility, reproductive medicine, family life and entrepreneurship in healthcare.
2024
Our goal is a satisfied patient
Interview on building a healthcare group, cross-disciplinary cooperation and the importance of comprehensive patient care.
PRONATAL opens its eleventh IVF centre in Croatian Rijeka
Commentary on the group's international expansion and the development of reproductive medicine in the Balkans.
It's roughly half-half now — men have problems too
Podcast on the causes of infertility, postponed parenthood, male infertility and the future of IVF.
2023
The satisfied patient comes first — without them, medicine makes no sense
Interview on how assisted reproduction centres work, patient care, and the group's development in the Czech Republic and abroad.
Listen & watch
Podcasts & videos.
Podcast · 2024
Forbes Byznys — It's roughly half-half now, men have problems too
- Male infertility
- Reproductive medicine
- Postponed parenthood
- PRONATAL's expansion in Europe
Podcast · Video · 2025
Pivo, Sunar a Prachy — Conception problems can be treated
- Fertility
- Relationships
- Reproductive medicine
- Healthcare entrepreneurship
Topics
Key themes.
Themes that recur across Dr. Karásek's interviews and public appearances.
Contact
Get in touch.
Interested in working together, in investment, or simply curious about the group? Write to us — we answer personally.
Registered office
Flash capital group, s.r.o.
Beranových 745, Letňany
199 02 Prague 9, Czech Republic
Company ID (IČO)
28154673
Write to us
We read every message and respond personally — usually within a few business days.
info@flashcapitalgroup.cz Open email →