MD Medical Group opens New Clinic in Yaroslavl
MD Medical Group Investments Plc (“MD Medical Group”, “MDMG” or the “Company” – LSE: MDMG), Russia’s leading provider of private healthcare for women and children, announces that it has today opened a new dedicated in-vitro fertilisation (IVF) clinic in Yaroslavl, Russia.
The newly-built clinic, Mother & Child Yaroslavl, is MDMG’s eleventh out-patient clinic to provide IVF services in its network of seventeen modern and high-quality facilities throughout Russia. The clinic will offer a wide range of services for women including IVF and gynaecology by MDMG’s highly qualified medical personnel and recognised medical experts.
In line with MDMG’s growth strategy, the 800m2 clinic is the only clinic in the Yaroslavl region to offer such medical expertise in the field of IVF and has the capacity to administer up to 1,000 IVF cycles and up to 20,000 doctor visits per annum. MDMG’s total investment in the clinic amounted to approximately RUB 50 million.
Commenting on the successful opening, Elena Mladova, Chief Executive Officer of MD Medical Group, said:
“The opening of our first clinic in Yaroslavl marks another significant achievement in MDMG’s progress this year in line with our commitment to deliver high-quality, modern services to meet the growing demand for medical expertise and convenience from patients across Russia. We remain focused on evaluating all opportunities whereby MDMG can enhance its market-leading position, backed by a strong pipeline of new facilities which support our growth ambitions.”
For further information please contact:
Tom Blackwell / Sergii Pershyn
Tel: +7 495 363 2849
|Consilium Strategic Communications|
Emma Thompson / Matthew Neal
Tel: +44 20 7920 2354
About MD Medical Group
MD Medical Group operates in the highly attractive Russian private healthcare service market and has a leading position in high-quality women's health and paediatrics. The company manages 17 modern healthcare facilities, including 2 hospitals and 15 outpatient clinics in Moscow, St. Petersburg, Ufa, Perm, Samara and Samara region, Irkutsk and Yaroslavl. In addition, 3 franchised outpatient clinics operate in Kyiv, Ukraine.
The Company's main medical facilities are the Perinatal Medical Center (PMC), a 250-bed medical centre, which opened its doors in 2006, and Lapino hospital, a 182-bed medical centre, which opened at the end of 2012. In 2012, there were 3,253 deliveries in PMC and Lapino. The number of outpatient treatments for 2012 in PMC and the Company's outpatient clinics totalled 446,407. In March 2013, the Company began construction of its third hospital in Ufa. In April 2013 MD Medical Group completed the acquisition of the IDK Medical Company, a network of women's and children's health clinics located in the Russian region of Samara ("IDK"). In May 2013, the Company acquired Mother&Child clinic in Irkutsk, which had previously operated through a franchise agreement with MD Medical Group. The same month the Company completed a large-scale modernisation project of its Mother & Child Health Clinic in Moscow. In December 2013, a new outpatient clinic was opened in Yaroslavl which became the first healthcare facility in the region to provide IVF services.
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.
Situated less than 300 km to the north east of Moscow and covering an area of around 200 sq km, Yaroslavl is the administrative centre of the Yaroslavl region, one of Russia’s most developed regions in terms of industry, with gross regional product of approximately RUB 285 bln (in 2011, Federal State Statistics Service (FSSS) data). The population of Yaroslavl region is around 1.3 million with 0.6 million living in Yaroslavl (as of 1 January 2013, FSSS data). The birth rate in the region is 11.1 per thousand, resulting in around 14,100 deliveries per annum (in 2011, FSSS data). Prior to the opening of Mother & Child Yaroslavl clinic there were no healthcare institutions which provided IVF services in the region.
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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