MDMG Announces Senior Management Change

MD Medical Group Investments Plc (“MD Medical Group”, “MDMG” or the “Company” – LSE:MDMG), a leading Russian private healthcare provider, today announced a change in its management team.

  • Vitalii Ustimenko to step down as Deputy CEO for Economics and Finance
  • Andrey Khoperskiy, currently MDMG’s Director of Finance, takes over the position of Deputy CEO for Economics and Finance
  • Vitalii Ustimenko to remain on the Board of Directors of MDMG

Changes take effect as of October 28, 2016

Mark Kurtser, CEO of MDMG, said:

“I want to personally thank Vitalii for everything that he has contributed to the Group since he joined us back in 2012. This included supporting our successful IPO on the London Stock Exchange as well as developing our finance function in a period of sustained, rapid growth, when we saw revenue increase from RUB 3 bln to RUB 9.5 bln, and as we built MDMG into the largest national private healthcare provider in Russia.
“As a Group, we still have substantial room for further growth as we continue to execute on our regional development strategy, and we are very pleased that we will benefit further from Vitalii’s expertise as he maintains his position on our Board of Directors.
“At the same time, one of Vitalii’s most important achievements has been helping to develop the depth and talent of our finance team, and I am delighted to announce that Andrey Khoperskiy will be taking on Vitalii’s day-to-day responsibilities within the Group. Having been with us already for the last three years, Andrey has an outstanding understanding of the business and thanks to his professional skills and knowledge is the ideal candidate to take on this position going forward.”

Biographical information:

Andrey Khoperskiy joined the Group as Head of Finance controlling and Treasury in 2013, he was appointed to a position Director for Finance of the Group in 2016. Previously, Andrey worked for Rusagro Group and Sukhoi.

Aviation Holding Company as a Finance manager and earlier he was an Auditor in BDO Russia. Mr Khoperskiy graduated from Moscow State University of Economics, Statistics and Informatics with a degree in Taxes. Holds ACCA Advanced Diploma in Accounting and Business and ACCA Diploma in International Financial Reporting.

For further information please contact:



Elena Romanova

MD Medical Group Investments Plc

Tel: +7 495 331 4120


Tom Blackwell: +7 919 102 9064

Sergii Pershyn: +1 929 855 8188

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 31 modern healthcare facilities, including 4 hospitals and 27 outpatient clinics in Moscow and Moscow region, 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.

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