MD Medical Group Starts Construction of Hospital in St Petersburg
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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 the ground-breaking ceremony has taken place for its first hospital in St Petersburg. Investment in the project is estimated at around RUB 5 billion, and the Company plans to open the state-of-the-art healthcare facility in summer 2020.
The hospital will have a total area of 22,000 sqm and include 178 beds. The multi-disciplinary high-tech in-patient facility, which has an area of over 18,500 sqm, will offer services including OBGYN, urology, surgery for children and adults, traumatology, and emergency cardiology for patients with acute coronary syndrome. In addition, the more than 3,500 sqm out-patient centre will include a children’s polyclinic with an immunological prophylaxis centre, a maternity welfare centre and a clinical-diagnostic centre for adults.
The hospital will include a number of integrated hybrid operating rooms capable of offering highly complex and high-tech surgical services.
The new hospital in St Petersburg is expected to have an annual capacity of approximately 2,500 deliveries, 1,200 IVF cycles, more than 35,000 in-patient days, 350,000 out-patient visits and 12,000 surgeries per year.
The Mother&Child St Petersburg hospital will comprise two buildings and an underground car park. The hospital is located in one of the most picturesque areas of the city, close to the Gulf of Finland, making patients’ stays even more comfortable. The hospital’s unique location will be matched by its eco-design and architecture, which are fully in line with city planning requirements for facilities located in conservation areas in St Petersburg.
Mark Kurtser, CEO of MD Medical Group, said:
“We see the construction of a multi-disciplinary hospital in St Petersburg – a city with strong medical traditions and the second largest healthcare market in Russia – as both a great responsibility and an honour.“Our clinic has successfully operated in St Petersburg for a number of years, and in 2017 we significantly expanded its floor space and service offering. Based on our local experience and analysis of the clinic’s performance we see significant potential demand for high-tech medical services in an expanded format. In addition to OBGYN, families in St Petersburg will be offered services including surgery, urology, traumatology and emergency cardiology.“We benefit from the fact that this hospital has been named one of the most important projects in the city in terms of its social and economic effect and has been granted the status of a Strategic Investment Project in St Petersburg. Benefits granted by this status will help us efficiently launch and operate the new hospital.”
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 38 modern healthcare facilities, including 5 hospitals and 33 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, Nizhny Novgorod, and Volgograd.
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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