MD Medical Group completes renovation of pmc and starts rebranding its hospitals
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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 completed the renovation of the Perinatal Medical Center (PMC).
Total investment in the project amounted to around 600 million roubles. Originally the hospital specialized in the Company’s primary offering of medical services: deliveries, gynaecology, paediatrics and IVF. After substantial renovation works the hospital has 5 new units now: general surgery, urology, traumatology, cardiology and endovascular surgery departments. Total capacity of the surgical department has now reached 3,250 operations per year. The units will function both on a commercial basis as well as under the Mandatory Health Insurance (MHI) policy.
A new IVF department has also been inaugurated at the hospital equipped with state-of-the-art innovative equipment which will ensure a new level of quality of the offering. The new department will have a capacity of 1,000 IVF cycles per year and will operate on a purely commercial basis.
After the renovation, total capacity of the hospital has increased to 3,500 deliveries, around 3,000 IVF cycles, including covered by MHI, as well as 34,000 in-patient days and over 295,000 out-patient treatments.
Having become multifunctional, the modernized PMC which provides patients with a full range of highly professional medical services in one place becomes the Company’s first hospital carrying the name “MD Group Clinical Hospital” as part of the Company’s rebranding campaign. It is expected that by the end of 2020 all six hospitals of the group will operate under this name. At the same time, the Company’s clinics with obstetrics and gynaecology as their main profile – services which have provided unconditional leadership of the Company will retain the brand “Mother and Child”. The need to introduce “MD Group” as a new name is due to the fact that the Company which originally started as a maternity and in the area of woman’s health has considerably expanded its original profile and now offers medical services to the whole family.
Mark Kurtser, CEO of MD Medical Group, said:
“14 years ago we opened the first private maternity in Russia - the Perinatal Medical Center (PMC) on Sevastopolsky prospect in Moscow. PMC laid the foundation for the success of the whole group. In pursuit of the Group’s strategy to diversify its services and open new multi-disciplinary hospitals all over the country we have now successfully completed the renovation of PMC. Moscow has a new modern hospital on it’s map offering medical services in a wide area. Operating the new hospital as “MD Group Clinical Hospital” we are starting to rebrand all hospitals of the Company in order to make their names fully correspond to their multifunctional profile”.
For further information please contact:
MD Medical Group Investments Plc
Tel: +7 495 331 41 20
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 41 modern healthcare facilities, including 6 hospitals and 35 out-patient 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, Volgograd, Tula, Kazan, Vladivostok, Krasnodar and Rostov on Don.
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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