MD Medical Group Significantly Expands St Petersburg Clinic
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MD Medical Group Investments Plc (“MD Medical Group”, “MDMG” or the “Company” – LSE: MDMG), a leading Russian private healthcare provider, today announces the expansion and modernisation of its out-patient clinic in St. Petersburg in response to growing demand for the clinic’s medical services. This second phase development at the Mother & Child St. Petersburg clinic delivered a 351 square metre increase in total floor-space occupied, bringing it to 893 square metres.
Existing premises doubled their IVF department capacity to 2,000 cycles per year. The gynaecology department also doubled its capacity – thanks to the acquisition of new space. In addition, the new space made it possible to increase the number of beds in the physiotherapy department, as well as to open a new operating theatre, four doctor’s consulting rooms and a 2-bed day unit. New medical equipment produced by GE and Karl Storz was also purchased.
The range of clinical procedures available has also significantly expanded in range and volume, in particular in terms of a number of gynaecological operations, and appointments can now be made with new specialists such as cardiologists, phlebologists, endocrinologists and haematologists.
MD Medical Group has invested RUB 62 million in this project.
Mark Kurtser, CEO of MD Medical Group, said:
“I am glad to announce that we have taken one of our very first clinics, in St. Petersburg, to new heights. Investment in this clinic makes it possible to increase the volume of services provided in our primary area of expertise – women’s health – and to offer new services for the entire family.“This scale of modernisation reflects the considerable progress that the Group has made since the clinic opened in 2011. We have become the undisputed leader in assisted reproductive technologies (ART) in Russia, and continue to expand our IVF capacity, including in Russia’s second largest city. In recent years, we have gained experience in providing a host of new services for all members of the family, and today are expanding the medical treatments we offer in St. Petersburg.“Our new operating theatre makes it possible to increase the number of operations carried out, while the addition of new, experienced, specialists and high-tech equipment means we can also extend the range of operations provided.”
For further information please contact:
MD Medical Group Investments Plc
Tel: +7 495 331 4120
Tom Blackwell: +7 919 102 9064
Sergii Pershyn: +1 929 855 8188
About MD Medical Group
MD Medical Group operates in the highly attractive Russian private healthcare service market and has a leading position in high-quality women's health and paediatrics. The company manages 32 modern healthcare facilities, including 4 hospitals and 28 outpatient clinics in Moscow and Moscow region, St. Petersburg, Ufa, Perm, Samara and Samara region, Irkutsk, Novosibirsk, Irkutsk, Yaroslavl, Ryazan, Kostroma, Novokuznetsk, Krasnoyarsk, Omsk, Barnaul, and Vladimir.
The Company’s shares have been listed on the London Stock Exchange (LSE ticker “MDMG”) in the form of Global Depositary Receipts (GDRs) since 12 October 2012.
This press release contains forward looking statements, which are based on the Company’s current expectations and assumptions and may involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. The forward looking statements contained in this press release are based on past trends or activities and should not be taken that such trends or activities will continue in the future. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a number of variables which could cause actual results or trends to differ materially, including, but not limited to: conditions in the market, market position of the Company, earnings, financial position, cash flows, return on capital and operating margins, anticipated investments and economic conditions; the Company’s ability to obtain capital/additional finance; a reduction in demand by customers; an increase in competition; an unexpected decline in revenue or profitability; legislative, fiscal and regulatory developments, including, but not limited to, changes in environmental and health and safety regulations; exchange rate fluctuations; retention of senior management; the maintenance of labour relations; fluctuations in the cost of input costs; and operating and financial restrictions as a result of financing arrangements.
No statement in this press release is intended to constitute a profit forecast, nor should any statements be interpreted to mean that earnings or earnings per share will necessarily be greater or lesser than those for the relevant preceding financial periods for the Company. Each forward looking statement relates only as of the date of the particular statement.
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