MD Medical Group Increases Stake in Irkutsk Clinic
MD Medical Group Investments Plc ("MDMG" - LSE: MDMG), Russia's leading provider of private women's and children's healthcare, announces that it has increased its stake in Mother & Child Irkutsk ("M&C Irkutsk") by 5% to a total of 85%.
The acquisition was for a cash consideration of USD 300,000. This follows MDMG's initial acquisition of an 80% stake, as announced in May of this year.
Established in 2007, Mother & Child Irkutsk is the only private reproduction centre in the Irkutsk region of Russia, specializing in IVF and gynecology. In 2012, Mother & Child Irkutsk handled 452 IVF cycles and 15,718 outpatient treatments, representing approximately 12% and 4% of MDMG's respective indicators.
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