MD Medical Group Posts Strong Growth Across All Operational Indicators for Q1 2016
MD Medical Group Investments Plc (“MD Medical Group”, “MDMG” or the “Company” – LSE: MDMG), a leading Russian private healthcare provider, today announces its operating results for the first quarter 2016.
Key operational highlights for Q1 2016:
- Total deliveries increased 18% year-on-year (y-o-y) to 1,560
- Total IVF cycles increased 55% y-o-y to 2,968
- Total in-patient treatments increased 7% y-o-y to 14,340
- Total out-patient treatments increased 17% y-o-y to 334,425
Mark Kurtser, Chairman of the Board of Directors of MD Medical Group, said:
“In the first quarter of 2016 we demonstrated excellent operating results, showing strong growth in all areas thanks to the further development of our existing and new facilities. We are particularly pleased with these results following our success in 2015, which saw us become the largest private player on Russia’s healthcare market in terms of revenue and EBITDA.In particular, in Q1 2016, the total number of deliveries increased 18% year-on-year to 1,560. The number of completed in-vitro fertilisation cycles grew by more than 1.5x to 2,968, significantly strengthening our leadership in Russia’s IVF market. The number of out-patient and in-patient treatments increased 17% and 7%, respectively.This growth was mainly driven by the continued ramp-up of our hospitals in Ufa, Novosibirsk and Lapino, as well as the further development of our Group’s clinics across Russia.In 2016, we continued expanding our network of high-tech medical facilities via both organic growth and the acquisition of quality assets. Early in the year we completed the purchase of the ARTMedGroup chain of five medical centres in Siberia, the results of which have been consolidated since January. In February, responding to increasing demand for our services in Moscow, we opened a large IVF department at one of our local clinics. And recently, our milestone 30th clinic opened its doors in Kostroma, offering IVF services for the first time in our new region.The first quarter was a good start to the year. We have significant plans for the next nine months and are well-positioned to continue growing successfully as the leading private health care company in Russia.”
Deliveries
- In Q1 2016, total deliveries increased 18% y-o-y to 1,560.
- In Q1 2016, there were 203 deliveries at Mother & Child Ufa hospital.
IVF
- In Q1 2016, total IVF cycles grew 55% y-o-y to 2,968.
- In Q1 2016, LFL[1] 2,333 IVF cycles were performed, up 22% y-o-y.
In-patient treatments
- In Q1 2016, total in-patient treatments grew 7% y-o-y to 14,340, driven by:
- 13% increase in paediatric in-patient treatments;
- 13% increase in in-patient days using other medical services.
- In Q1 2016, LFL in-patient treatments increased 6% y-o-y to 14,226.
Out-patient treatments
- For Q1 2016, the total number of out-patient treatments increased 17% y-o-y to 334,425, driven by:
- 15% increase in OBGYN out-patient treatments;
- 11% growth in paediatric out-patient visits;
- 26% increase in other medical services.
- In Q1 2016, LFL out-patient treatments increased 10% y-o-y to 314,079.
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MDMG |
|
LFL | ||||
|
|
1Q'16 |
1Q'15 |
p-o-p, % |
1Q'16 |
1Q'15 |
p-o-p, % |
|
Obstetrics and Gynaecology | ||||||
|
Deliveries |
1,560 |
1,324 |
18% |
1,560 |
1,324 |
18% |
|
In-patient treatments (except deliveries) |
6,105 |
6,168 |
-1% |
6,000 |
6,168 |
-3% |
|
Out-patient treatments |
124,034 |
107,931 |
15% |
117,515 |
107,931 |
9% |
|
IVF | ||||||
|
|
2,968 |
1,910 |
55% |
2,333 |
1,910 |
22% |
|
Paediatrics | ||||||
|
In-patient treatments |
4,804 |
4,247 |
13% |
4,804 |
4,247 |
13% |
|
Out-patient treatments |
92,345 |
83,486 |
11% |
92,218 |
83,486 |
10% |
|
Other medical services | ||||||
|
In-patient treatments |
3,431 |
3,048 |
13% |
3,422 |
3,048 |
12% |
|
Out-patient treatments |
118,046 |
93,691 |
26% |
104,346 |
93,691 |
11% |
|
Total |
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|
|
|
|
|
|
Total deliveries |
1,560 |
1,324 |
18% |
1,560 |
1,324 |
18% |
|
Total IVF |
2,968 |
1,910 |
55% |
2,333 |
1,910 |
22% |
|
Total in-patient treatments |
14,340 |
13,463 |
7% |
14,226 |
13,463 |
6% |
|
Total out-patient treatments |
334,425 |
285,108 |
17% |
314,079 |
285,108 |
10% |
For further information please contact:
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Investors |
Media |
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Elena Romanova
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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 30 modern healthcare facilities, including 4 hospitals and 25 outpatient clinics in Moscow, St. Petersburg, Ufa, Perm, Samara and Samara region, Irkutsk, Novosibirsk, Irkutsk, Yaroslavl, Ryazan, Kostroma, Novokuznetsk, Krasnoyarsk, Omsk, and Barnaul.
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.
Forward-Looking Statements:
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.