MD Medical Group provides company update at The 17th Annual Renaissance Capital Investor Conference in Moscow
MD Medical Group Investments Plc (“MD Medical Group”, “MDMG” or the “Company” – LSE: MDMG), Russia’s leading provider of private women’s and children’s healthcare, was presenting at The 17th Annual Renaissance Capital Investor Conference in Moscow on 24-25 June 2013.
Elena Mladova, the Company’s CEO presented a corporate and operational overview and provide an update on MD Medical Group’s recent developments.
MD Medical Group has continued to expand its operations, and has successfully ramped up services at its second hospital Lapino, where 416 deliveries took place for the first 5 months of 2013, resulting in a capacity utilization rate of above 30%.
Construction of the Group's third hospital in Ufa is also on schedule, with completion of the vertical construction expected by October 2013.
In May 2013, the Company completed the acquisition of 80% of Mother & Child Irkutsk (“M&C Irkutsk”), a specialist outpatient clinic providing a range of women’s health services in the Russian region of Irkutsk, which previously operated through a franchise agreement with MDMG.
Additionally, the Chief Financial Officer has been appointed at the newly acquired IDK Medical Company, and a swift integration process is underway.
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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