MD Medical Group Acquires Mother & Child Clinic in Irkutsk
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, announces that it has 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. Until now, M&C Irkutsk has operated through a franchise agreement with MDMG.
The acquisition was for a cash consideration of USD 4.8 mln for 80% of the outstanding share capital of M&C Irkutsk.
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.
Commenting on the acquisition, CEO of MD Medical Group Elena Mladova, said:
“We continue to execute on our strategy of strengthening our position in Russia’s largest and fastest growing regions. Mother & Child Irkutsk is an excellent fit for us, given its focus on IVF and gynaecology and the similarity of its business model with other clinics in our network. We look forward to the effective integration of M&C Irkutsk into the group, as we expand further our presence in the region.”
For further details on the transaction please refer to the management presentation on the Company’s web site at www.mcclinics.com/presentations/
Forward-Looking Statements:
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