MD Medical Group to open a new clinic in Ryazan
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 health care, today announces plans to open a new outpatient clinic in Ryazan, Mother & Child Ryazan.
The 1,400 m2 new clinic is expected to open in the first quarter of 2015 and will be the first clinic in the Ryazan region to provide IVF services in addition to a wide range of other medical services for women and children. The planned annual operational targets at full capacity include 480 IVF cycles and over 20,000 out-patient treatments.
In line with MDMG’s strategy to broaden its presence throughout Russia via the opening of new clinics in key regions where it currently does not operate, Ryazan is the administrative centre of the Ryazan region with a total population of 1.1 million, 46% of which live in Ryazan. The city, which is situated 180 km south-east of Moscow, is a major industrial and scientific hub.
The new premises will be rented under a long-term agreement for 10 years. MDMG will invest approximately RUB 80 million in the refurbishment of the facility and equipment by the end of 2014 which will be 50% funded by the Company’s own cash assets and 50% through an agreed bank loan.
Dr Elena Mladova, Chief Executive Officer of MD Medical Group, said:
"I am very pleased to announce the plans to open our first clinic in Ryazan. Throughout Russia, there continues to be an increasing demand for high-quality medical care and services for women and children and MDMG’s strong track record has established the Company as the leader in the market. “As a doctor, I know that efficient treatment requires there to be medical services provided in a timely manner, close to a patient’s home. In this regard, I am proud that our clinic will be the first in the Ryazan region to provide IVF treatments. It is my hope that in the future IVF and other important treatments will be provided in every region of Russia, with a notable contribution to achieving this made by MDMG.”
For further information please contact:
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Investors |
Media |
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Elena Romanova
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Consilium Strategic Communications London Emma Thompson / Matthew Neal Tel: +44 20 7309 5700 MDMG@em-comms.com |
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 Centre (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.