RDIF Together with Interhealth Saudi Arabia to Invest in the Construction of a High-Tech Multifunctional Pediatric Center in the Republic of Tatarstan

Private Equity Wire, 05.10.2017

The Russian Direct Investment Fund (RDIF), the sovereign wealth fund of Russia, and Interhealth Saudi Arabia, one of the world's leading healthcare companies, have agreed to invest in the construction of a high-tech multifunctional centre for pediatric rehabilitation in Tatarstan as part of the medical cluster close to the Children's Republican Clinical Hospital of the Ministry of Health of the Republic of Tatarstan. The project will be implemented on the PPP basis together with the IPEK Financial Group. According to the agreement, the first-stage investment by the partners will total 550 million rubles. The parties are also looking at the feasibility of extending the project throughout other regions in Russia.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:

"Investing in the construction of a high-tech multifunctional pediatric recovery center in the Republic of Tatarstan will create a modern campus for providing rehabilitation services to children using innovative and modern technologies. Collaborating with the leading healthcare company Interhealth Saudi Arabia will facilitate the introduction of world's best in class treatments."

Emada A. Al Dukair, executive director of InterHealth Saudi Arabia, said:

"We see significant potential in the development of the healthcare market in Russia and recognize the value of constructing the pediatric rehabilitation center in the Tatarstan region. Collaboration between InterHealth Saudi Arabia and RDIF will bring innovative healthcare practices to the region, as well as financial support."

Adel Vafin, Minister of Healthcare of the Republic of Tatarstan, said:

"The construction of a multifunctional rehabilitation center for children as part of the medical cluster being constructed close to the Children's Republican Clinical Hospital of the Ministry of Health of the Republic of Tatarstan will provide necessary rehabilitation services for patients, including those after high-tech medical treatment. The opening of the center will significantly help reduce child morbidity and disability in the Republic of Tatarstan and subsequently in other regions of the Russian Federation. The new campus will become a catalyst for growth and development of medical tourism in the Republic of Tatarstan."