MD Medical Group significantly expands Kostroma 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, announces that it has expanded its Mother&Child clinic in Kostroma. Total investment in the project amounted to 20 million roubles.
The expanded clinic with an area of 209 sq. m now offers the following new services: urology, endocrinology, gastroenterology, internal medicine, and anaesthesiology. The clinic is now able to offer a full-cycle IVF treatment (it used to provide only first-stage treatment, with subsequent procedures carried out at the Group’s clinic in Yaroslavl).
The upgraded clinic can carry out up to 500 IVF cycles, up to 400 minor gynaecological operations in the day-patient centre and up to 13,500 out-patient treatments per year.
Mark Kurtser, CEO of MD Medical Group, said:
“We are satifisfied with how our clinic in Kostroma has performed over these first two years. Therefore, in response to growing demand from the patients – who live in Kostroma and nearby towns – we decided to increase the clinic’s capacity in the exising core areas and also to offer new medical services for all family members.“We believe that the expanded clinic will demonstrate even stronger operational performance.”
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 is a leading provider in the highly attractive Russian private healthcare service market. The company manages 36 modern healthcare facilities, including 5 hospitals and 31 outpatient clinics in Moscow and the Moscow Region, St. Petersburg, Ufa, Perm, Samara and the Samara Region, Irkutsk, Novosibirsk, Irkutsk, Yaroslavl, Ryazan, Kostroma, Novokuznetsk, Krasnoyarsk, Omsk, Barnaul, Vladimir, Tyumen, Voronezh, and Nizhny Novgorod.
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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