RDIF and the Foundation of the International Medical Cluster have agreed on a partnership to attract investments in medicine

Press release, 07.06.2019

Saint-Petersburg, June 7, 2019 - The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and the Foundation of the International Medical Cluster (IMC Foundation, established by the Government of Moscow) announce a partnership aimed at attracting investments in medical projects. The agreement was signed today at the St. Petersburg International Economic Forum.

In particular, the parties agreed to work together to find and implement investment projects aimed at improving the quality of medical care, the development of medicines, as well as new technologies in this area.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“Development of healthcare and life-standard improving projects is one of the main priorities of the RDIF investment strategy. Cooperation with the Foundation of the International Medical Cluster will be aimed at developing best practices in medical care and attracting advanced technologies in the production of medicines.”

Mikhail Yugay, CEO of the IMC Foundation, said:
“In the modern society medicine becomes one of the most important areas for human life. The demand of the population for high-quality medical services in Russia, which can no longer be completely satisfied by the public organizations, is an important driver for the investments in the segment. And we are pleased that our strong desire to improve Russian medicine is supported by such a strong partner as the Russian Direct Investment Fund».

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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. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB 1.5tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40bn. Further information can be found at www.rdif.ru

Moscow International Medical Cluster (IMC) in "Skolkovo" Innovation Center is a social project of the Moscow Government in the area of healthcare. The project is aimed to improve the quality and efficiency of medical care in Russia. The IMC is a unique project because on its territory clinics from OECD countries can provide medical care, apply medicines and medical equipment without additional certification in the Russian Federation, if they are registered in their country. The International Medical Cluster is situated on 57.6 hectares of Skolkovo Innovation Center. Eventually, as a result of consistent implementation of the project, more than 10 medical organizations from OECD countries will appear in IMC. Up to 300 thousand patients every year will be receiving qualified medical care with advanced technologies. Further information can be found at: http://mimc.global

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

Andrew Leach / Maria Shiryaevskaya
Hudson Sandler
Tel: +44 (0) 20 7796 4133