RDIF attracts leading strategic partner to the development of a network of medical centers for the diagnosis and treatment of oncological diseases
St. Petersburg, May 24, 2018 - The Russian Direct Investment Fund (RDIF, the sovereign fund of the Russian Federation) and Mubadala Investment Company (UAE) have attracted MedInvestGroup, which manages a leading network of the PET Technology regional oncology and radiological centres, as a strategic investor in the joint management and development of a network of cancer diagnosis and treatment centres. The corresponding agreement was announced today at the St. Petersburg International Economic Forum.
In addition to managing the existing medical centers, the project involves the construction of similar facilities in other regions of Russia with the goal of creating a trans-Russian network of specialized medical centres. They will feature the latest medical equipment, which will strengthen the capabilities of medical personnel and lay the foundation for improving the quality of medical services — most of which will be provided to the public for free as part of the Compulsory Health Insurance program.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
"The project to create a nationwide network of diagnosis and treatment centres for oncological diseases corresponds with the tasks set by the President of the Russian Federation in the Address to the Federal Assembly. The rich expertise of our strategic partner, MedInvestGroup, will significantly improve the efficiency of the already functional centres in Podolsk and Balashikha and build upon the country's successful experience in the construction of such facilities."
Sergey Notov, Managing partner of MedInvestGroup, said:
"We understand that the government is interested in bringing private capital into the key areas, including the healthcare sector. Our experience and expertise have helped us form a professional team and successfully implement projects of national importance in line with strategic goals in the healthcare sector. The extention of MedinvestGroup's portfolio with projects in Podolsk and Balashikha marks another milestone in creating a nationwide network of high-tech oncology centres in territory of Russia. We are sure that our partnership will become an effective tool for achieving the outlined goals."
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 rdif.ru
Mubadala Investment Company (Mubadala) is a pioneering global investor, deploying capital with integrity and ingenuity to accelerate economic growth for the long-term benefit of Abu Dhabi. As Abu Dhabi’s leading strategic investment company, Mubadala is active in 13 sectors and more than 30 countries around the world, creating lasting value for its shareholder, the Government of Abu Dhabi.
Mubadala’s work includes the development of global industrial champions in sectors such as aerospace, ICT, semiconductors, metals & mining and renewable energy, utilities, and the management of diverse financial holdings. The company builds on legacy expertise in oil and gas to invest across the hydrocarbon spectrum, and enhance the United Arab Emirates’ growth potential through investments in healthcare, real estate and defense services. Mubadala’s investment approach prioritizes partnership with best-in-class organizations and a commitment to the highest standards of governance.
MedInvestGroup is a Russian company established to provide the Russian population with high-tech medical assistance in the diagnosis and treatment of cancer. The company’s objective is to create a network of oncological centres across Russia and CIS within the next three years.
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Andrew Leach
Tel: +44 (0) 20 7796 4133