RDIF, Bpifrance and Orpea announce investments for the construction of medical rehabilitation centers in Russia

Press release, 10.12.2019

Moscow, December 10, 2019 – The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), Bpifrance (France’s sovereign wealth fund) and the French company Orpea, a world leader in global dependency care, have agreed to invest for the construction of new medical rehabilitation centers in Russia. Moreover, the partners also target to develop nursing homes locally, relying on Orpea’s strong international track record.

The announcement was made today on the sidelines of 25th Session of Russian-French Economic, Financial, Industrial and Trade Council (CEFIC).

Investments in care and rehabilitation clinics for senior citizens will be made through Orpea’s Russian division, following contributions from RDIF and Bpifrance. The partners intend to develop 13 facilities with 2,600 bedrooms by 2025, with the possibility of expanding the investment to up to 20 facilities with 4,000 bedrooms.

The first joint project planned to be carried out by the parties will be the creation of the Rehabilitation Centre at the International Medical Cluster in Skolkovo. The Centre is scheduled to open in 2022 and will have a 200-bed capacity.

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

“The construction of rehabilitation clinics with state-of-the-art equipment, providing high standards of care for the elderly supports the implementation of the national project "Demography" and the federal project "Senior Generation". Together with French partners, RDIF seeks to reduce the deficit of highly qualified outpatient and inpatient care for older people, and to improve the quality of services for these patients. Orpea’s technologies and expertise will enable us to carry out technology and personnel training for rehabilitation centers and in a short time apply the best world practices, here in Russia”.

Nicolas Dufourcq, CEO of Bpifrance, said:

“We are proud of the success of our investment platform developed with RDIF. This transaction, supporting Orpea, a French dependency care champion with strong ambitions in Russia, is part of Bpifrance’s strategy to French companies, from SMEs to the largest ones. Orpea’s proprietary rehabilitation care methodologies should contribute to promote the French medical know-how in Russia with several projects already identified.”

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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 RUB1.5tn 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 over 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 $40bn. Further information can be found at www.rdif.ru

Orpea was founded in 1989, company is among world leaders in long-term care (nursing homes, post-acute and rehabilitation hospitals, psychiatric hospitals, and homecare services) with a network of 951 facilities representing 96,677 beds (17,388 of them under construction) in 16 countries. Further information can be found at www.orpea-group.com

Bpifrance is the French sovereign fund and national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra-financial services, such as training, consultancy to help entrepreneurs meet their challenges. Further information can be found at: www.bpifrance.com

For additional information contact:

Arseniy Palagin                                     Maria Shiryaevskaya / Andrew Leach

Russian Direct Investment Fund              Hudson Sandler

Press Secretary                                        Tel: +44 (0) 20 7796 4133 

Tel: +7 495 644 34 14, ext. 2395

Mobile: +7 916 110 31 41

E-mail: arseniy.palagin@rdif.ru