MD Medical Group completes vertical construction of its new hospital in Ufa
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 vertical construction stage of its new hospital in Ufa, the capital of the Republic of Bashkortostan.
Currently the fit-out works and engineering services operations are underway and construction has been completed ahead of schedule.
It is expected that the clinical hospital “Mother & Child Ufa”, designed for 181 in-patient beds with the capacity to expand to 200 beds, will include a maternity suite, gynecology departments, an advisory clinic for women, a laboratory and diagnostics unit, and a unit for the second phase of care of premature children, as well as the first stem and mesenchymal cell bank to open in Bashkortostan. The multi-purpose clinic will also offer a wide range of diagnostic procedures including magnetic resonance therapy and endoscopic diagnostics.
Ufa will represent MD Medical’s third purpose-built, fully-equipped hospital in Russia. At full utilisation, the hospital will have the capacity to handle 3,000 deliveries and 1,100 IVF cycles per year. In addition, the hospital will provide around 240,000 out-patient treatments. The in-patient unit capacity is around 18,000 bed-days of OBGYN and around 13,000 bed-days for paediatrics.
MDMG’s total investment into the projects exceeds 4 billion rubles, more than 1.7 billion rubles of which have currently been invested. It is expected that the hospital will open in January 2015.
Commenting on the successful opening, Elena Mladova, Chief Executive Officer of MD Medical Group, said:
“I am pleased to announce that construction of our third hospital is occurring faster than planned. Citizens of Ufa and Bashkortostan are already familiar with the high standards of modern medical services provided via MDMG’s network as one of our clinics has operated there for more than five years. As a result of the new clinical hospital opening, our patients will gain access to a wider range of services in women’s and children’s healthcare, some of which are unique for the region. “This is an important project with significant potential not only for our Company but also the whole region where the new hospital will create around 800 jobs. The successful construction of our hospital in Ufa is another example of efficient implementation of MDMG’s growth strategy in the most attractive regions of Russia.”
Since 2009 MDMG has operated an out-patient clinic in Ufa, where in 2013 100 laparoscopic surgeries were completed, more than 16,000 patients received out-patient treatment and around 700 IVF cycles were administered.
For further information please contact:
Media
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Emma Thompson / Matthew Neal
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MDMG@em-comms.com
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 2013, there were 3,816 deliveries in PMC and Lapino. The number of outpatient treatments for 2013 in PMC and the Company's outpatient clinics totalled 627,247. 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 ("IDK"), a network of women's and children's health clinics located in the Russian region of Samara. 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.
About Bashkortostan
The Republic of Bashkortostan is a federal subject of Russia with 4.1 mln population, 1.0 mln of which lives in its capital – Ufa (as of 01.01.2014, source: Bashkortostanstat). Bashkortostan is one of top-ten Russia’s federal subjects in terms of gross regional product. The birth rate in the region is 14.6 per thousand, resulting in around 59,200 deliveries per annum (in 2012, source: Bashkortostanstat).
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