24 Jun 2013 07:00
MD Medical Group provides company update at The 17th Annual Renaissance Capital Investor Conference in Moscow
24 June 2013 - MD Medical Group Investments Plc ("MD Medical Group", "MDMG" or the "Company" - LSE: MDMG), Russia's leading provider of private women's and children's healthcare, will be presenting at The 17th Annual Renaissance Capital Investor Conference in Moscow on 24-25 June 2013.
Elena Mladova, the Company's CEO will present a corporate and operational overview and provide an update on MD Medical Group's recent developments.
MD Medical Group has continued to expand its operations, and has successfully ramped up services at its second hospital Lapino, where 416 deliveries took place for the first 5 months of 2013, resulting in a capacity utilization rate of above 30%.
Construction of the Group's third hospital in Ufa is also on schedule, with completion of the vertical construction expected by October 2013.
In May 2013, the Company completed the acquisition of 80% of Mother & Child Irkutsk ("M&C Irkutsk"), a specialist outpatient clinic providing a range of women's health services in the Russian region of Irkutsk, which previously operated through a franchise agreement with MDMG.
Additionally, the Chief Financial Officer has been appointed at the newly acquired IDK Medical Company, and a swift integration process is underway.
For more information about MD Medical Group, please visit the Company's web site at www.mcclinics.com, or contact:
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About MD Medical Group
MD Medical Group operates in the highly attractive Russian private healthcare service market and has a leading position in high-quality women's health and paediatrics. The company manages ten modern healthcare facilities, including two hospitals and nine outpatient clinics in Moscow, St. Petersburg, Ufa, Perm and Irkutsk. In addition, two franchised outpatient clinics operate in Kyiv.
The Company's main medical facilities are the Perinatal Medical Center (PMC), a 250-bed medical centre, which opened its doors in 2006, and Lapino hospital, a 182-bed medical centre, which opened at the end of 2012. In 2012, there were 3,253 deliveries in PMC and Lapino. The number of outpatient treatments for 2012 in PMC and the Company's outpatient clinics totalled 446,407. In March 2013, the Company began construction of its third hospital in Ufa. In April 2013 MD Medical Group completed the acquisition of the IDK Medical Company, a network of women's and children's health clinics located in the Russian region of Samara ("IDK").
The Company's shares have been listed on the London Stock Exchange (LSE ticker "MDMG") in the form of Global Depositary Receipts (GDRs) since 12 October 2012.
Forward-Looking Statements:
This press release contains forward looking statements, which are based on the Company's current expectations and assumptions and may involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. The forward looking statements contained in this press release are based on past trends or activities and should not be taken that such trends or activities will continue in the future. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a number of variables which could cause actual results or trends to differ materially, including, but not limited to: conditions in the market, market position of the Company, earnings, financial position, cash flows, return on capital and operating margins, anticipated investments and economic conditions; the Company's ability to obtain capital/additional finance; a reduction in demand by customers; an increase in competition; an unexpected decline in revenue or profitability; legislative, fiscal and regulatory developments, including, but not limited to, changes in environmental and health and safety regulations; exchange rate fluctuations; retention of senior management; the maintenance of labour relations; fluctuations in the cost of input costs; and operating and financial restrictions as a result of financing arrangements.
No statement in this press release is intended to constitute a profit forecast, nor should any statements be interpreted to mean that earnings or earnings per share will necessarily be greater or lesser than those for the relevant preceding financial periods for the Company. Each forward looking statement relates only as of the date of the particular statement.