RDIF announces completion of first round of investment in innovative Russian developer of surgical robots
Moscow, November 9, 2019 –The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) announces the completion of the first round of investment in Assisted Surgical Technologies (AST), the Russian developer and manufacturer of innovative surgical robots.
This investment is part of the Investment Lift mechanism aimed at stimulating the growth of mid-sized, non-resource companies with export potential. Investment is aimed at preparing and obtaining patent documentation by the company, furthering clinical research and creating production prototypes of robots.
The utilization of surgical robot will help reduce the cost of robotic surgery about fivefold, in comparison with foreign counterparts, due to advances in processing and reduction in design of the Russian robot. Production of pilot prototypes will be organized at Russian enterprises.
It is planned to significantly improve the quality of robotic surgery through the introduction of digital apps, including those based on Artificial Intelligence, and remote control systems of the robot.
AST expects to take up to 50% of the domestic market in abdominal, gynecological and urological surgery. The issue of including the Russian robot in the compulsory medical insurance system and replacing part of laparoscopic operations with robotic surgery is worked over. The company plans to enter the Chinese market as well as other Asian countries, and to supply equipment to the Middle East and Europe.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“Developing surgical robots using artificial intelligence capable of performing unique technological solutions will enable AST to create equipment superior to foreign competitors, export their products globally and increase both the level of medical care and affordability of new technologies for the people. RDIF’s investments are aimed at performing the goals set out by the national project “Healthcare”, as well as replacing foreign medical equipment with domestically manufactured products.”.
Dmitry Pushkar, project’s research advisor,said:
“The creation of a surgical robot is testament to the support that RDIF and partners provide to develop robotic technologies based on artificial intelligence, which help to improve the quality of life. Together with leading Russian doctors and engineers, we are creating fundamentally new, revolutionary surgery based on digitalization, which can significantly reduce a patient’s recovery time. The full-scale implementation of robotic surgery will increase the accessibility of related medical services while also saving billions of rubles.”
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 successfully jointly implemented more than 70 projects with foreign partners, totaling more than RUB 1.5 tn and covering 95% of the regions of the Russian Federation. RDIF’s portfolio of companies employs more than 800,000 people and generates revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at rdif.ru
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Arseniy Palagin Maria Shiryaevskaya / Andrew Leach
Russian Direct Investment Fund Hudson Sandler
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