RDIF Portfolio Company Mother and Child Launches Major Regional Project
Press release, 31.10.2014
Ufa, 31 October 2014 – The CEO of the Russian Direct Investment Fund, (RDIF) Kirill Dmitriev, visited the Republic of Bashkortostan to celebrate the opening of a new Mother and Child clinical hospital in Ufa. This new hospital is the largest private multidisciplinary in-patient facility outside of the Moscow Region. The President of the Republic of Bashkortostan, Rustem Khamitov; Deputy Prime Minister of Russia, Olga Golodets; and Chairman of the Board at Mother and Child, Mark Kurtser, also attended the ceremony.
The opening of the Ufa clinical hospital is in line with Mother and Child’s plan to expand its network of clinics. In addition to RDIF, who invested $50 million in the company’s IPO in October 2012, Mother and Child received funding from RDIF’s co-investors, including one of the world’s largest investment companies, BlackRock; Siguler Guff subsidiary Russia Partners; Kuwait Investment Authority; and a host of other leading institutional investors.
The clinical hospital in Ufa will also feature the Republic of Bashkortostan’s first ever private maternity facility. Furthermore, residents will have access to a range of services that had not been available previously. These include the region’s only Stem Cell bank, MRI, angiograph, integrated operating room and the first Children’s Health Centre (both in-patient and out-patient), where children can be examined and receive treatment without having to leave the clinic.
The new hospital is in full compliance with the highest standards set by Mother and Child, meaning that patients will have access to the latest high-tech medical services. The combination of innovative technologies, highly experienced doctors and medical staff, along with the strictest safety and comfort standards, will ensure the very highest level of care.
Kirill Dmitriev, CEO of RDIF and Member of the Board of Mother and Child, said:
“The opening of the clinical hospital in Ufa is an important step for Mother and Child in the implementation of its regional development strategy. The market for private healthcare in Russia is very promising, with experts projecting 60% growth from 2013 to 2017, a large majority of which will take place in regional locations. We are confident that through their highly qualified staff and the latest technologies, Mother and Child will be able to build on the success that it has achieved in Moscow and the Moscow Region throughout the rest of the country.”
Mark Kurtser, Chairman of Mother and Child, said:
“I am proud that we are the first group to open such a large-scale multidisciplinary in-patient facility in Russia and have been able to keep the promises we made during the IPO. We are working towards making high-quality medical care available to residents all over the country, so that they will no longer need to make several journeys to different cities in order to receive quality treatment, or treatment that is unavailable elsewhere.”
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Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity co-investments primarily in Russia alongside reputable international financial and strategic investors. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information is available at: www.rdif.ru
Mother and Child Group of Companies operates in the extremely attractive Russian private healthcare market. It is a leader in women’s health and paediatrics. At present, the company manages 22 modern healthcare facilities: four in-patient and 18 out-patient clinics in Moscow, St Petersburg, Ufa, Perm, Samara and the Samara Region, Irkutsk, Yaroslavl and Novosibirsk. It also has three franchised clinics in Kiev. A new out-patient facility in Ryazan is set to open in the first quarter of 2015.
A total number of 3287 women gave birth at the Lapino perinatal centre and hospital in the first 9 months of 2014. The number of out-patient visits during the same period reached 573,872.
Company shares have traded on the London Stock Exchange as Global Depository Receipts (GDR) since 12 October 2012 (ticker: MDMG)
Further information is available at: www.mcclinics.ru
Russian Direct Investment Fund
Director, Media Relations Department
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Andrew Hayes / Maria Ignatova / Elena Garside
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