RDIF and partners to participate in project to create the first Russian surgical robot

Press-release, 24.05.2018

St. Petersburg, May 24, 2018 – The Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) in partnership with leading Asian co-investors announce the first round of investments in a project to create and manufacture Russian surgical robots.

Foundational to the project is the development of an interdisciplinary team that has united Russian scientists, engineers and physicians, working on fundamental and applied science, with international partners from development, industrial, and clinical institutions. The project was included in the National Technological Initiative’s 100 best projects. The project’s co-investors will be leading funds from China, the Middle East and Japan.

According to forecasts from the Ministry of Health, the total number of surgical robots in Russia will exceed 2,000 by 2024. The investment project is aimed at ensuring the mass introduction and accessibility of robotic surgery in Russian clinics. Thanks to innovative solutions and the compact design of the Russian robot, the developers predict a five-fold decrease in the cost of robot-led operations compared to foreign counterparts. As a result of these developments, robotic medical care will be possible within the framework of Russia’s Mandatory Medical Insurance program.

The agreement to initiate investment was signed at the St. Petersburg International Economic Forum. The company plans to complete research work in 2018-19 and start production in 2020. It expects to occupy 50% of the Russian market for medical services such as abdominal, gynecological and urological surgery.

In the future, the company plans to enter promising markets in China, countries in Asia, the Middle East and Europe. The production of pilot prototypes will be managed by Russian businesses.

Kirill Dmitriev, CEO of RDIF, noted:

“The creation of the first Russian surgical robot — in all respects superior to foreign counterparts — is an example of the technological breakthroughs necessary for Russia’s economic and social development. The implementation of this project will lead our country to the forefront of high-tech medicine.”

Dmitry Pushkar, investor of the project, Chief urologist of the Ministry of Health of the Russian Federation, said:

“Robotic surgery will revolutionize health care. The surgical robot is able to operate in the most inaccessible places of the human body with minimal loss of blood and a high degree of accuracy. At the same time, our task is to make sure that robotic operations are accessible to any resident of our country.”

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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru

For additional information contact:

Arseniy Palagin

Russian Direct Investment Fund
Press Secretary
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

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Hudson Sandler
Tel: +44 (0) 20 7796 4133