23 Apr 2018 08:00
MD MEDICAL GROUP REPORTS OPERATIONAL RESULTS FOR Q1 2018
23 April 2018, Moscow - MD Medical Group Investments Plc ("MD Medical Group", "MDMG" or the "Company" - LSE: MDMG), a leading Russian private healthcare provider, today announces its operating results for the first quarter of 2018.
Mark Kurtser, CEO of MD Medical Group, said:
"In the first quarter of 2018, we continued actively investing in the future development of the Group by expanding our business across Russia. In March, in line with our initial plans, we opened a new multi-disciplinary hospital in Samara, which has demonstrated solid operational performance already in the first days of its operations. We also further developed our network of clinics. In particular, we opened new clinics in Nizhny Novgorod and Vladimir, and we significantly expanded the floor space and range of services at our "Mother&Child Yugo-Zapad" clinic in Moscow.
"In Q1 2018, we demonstrated our ability to adapt to evolving market conditions. The results in our traditional service lines remained mainly unchanged year-on-year. At the same time, we were prepared for the cyclical nature of birth dynamics as we continued to focus our efforts on developing our Other medical services offering. These efforts translated into positive results - this service line was the key driver for the growth in in-patient and out-patient visits in the first quarter by 15% and 7%, respectively.
"We are committed to continuing to develop our multi-disciplinary offer, building on our traditional specialisation in healthcare services for women and children, while adding new promising medical services that are increasingly contributing to the Group's growth in operational and financial performance."
Deliveries
· In Q1 2018, total deliveries decreased 2% y-o-y to 1,563.
IVF
· In Q1 2018, total IVF cycles decreased 1% y-o-y to 3,309.
In-patient treatments
· In Q1 2018, total in-patient treatments grew 15% y-o-y to 16,800, driven by:
o 12% increase in paediatrics in-patient treatments;
o 47% increase in in-patient days using other medical services.
· In Q1 2018, LFL in-patient days increased 12% y-o-y to 16,468.
Out-patient treatments
· In Q1 2018, the total number of out-patient treatments increased 7% y-o-y to 390,492, driven by:
o 3% increase in OBGYN out-patient treatments;
o 5% rise in paediatric out-patient visits;
o 13% increase in other medical services.
· In Q1 2018, LFL out-patient treatments increased 6% y-o-y to 384,781.
Operational results for Q1 2018 | ||||||||
Like-for-like | ||||||||
Q1 2018 | Q1 2017 | y-o-y, % | Q1 2018 | Q1 2017 | y-o-y, % | |||
Obstetrics and Gynaecology | ||||||||
Deliveries | 1,563 | 1,603 | -2% | 1,546 | 1,603 | -4% | ||
In-patient treatments (except deliveries) | 5,846 | 5,997 | -3% | 5,713 | 5,997 | -5% | ||
Out-patient treatments | 132,134 | 127,954 | 3% | 128,078 | 127,954 | 0% | ||
IVF | ||||||||
3,309 | 3,359 | -1% | 3,164 | 3,359 | -6% | |||
Paediatrics | ||||||||
In-patient treatments | 5,532 | 4,956 | 12% | 5,428 | 4,956 | 10% | ||
Out-patient treatments | 107,898 | 102,694 | 5% | 107,260 | 102,694 | 4% | ||
Other medical services | ||||||||
In-patient treatments | 5,422 | 3,697 | 47% | 5,327 | 3,697 | 44% | ||
Out-patient treatments | 150,460 | 133,368 | 13% | 149,443 | 133,368 | 12% | ||
Total | ||||||||
Total deliveries | 1,563 | 1,603 | -2% | 1,546 | 1,603 | -4% | ||
Total IVF | 3,309 | 3,359 | -1% | 3,164 | 3,359 | -6% | ||
Total in-patient treatments | 16,800 | 14,650 | 15% | 16,468 | 14,650 | 12% | ||
Total out-patient treatments | 390,492 | 364,016 | 7% | 384,781 | 364,016 | 6% | ||
This announcement contains inside information.
For further information please contact:
Investors | Media |
Dmitry Yakushkin MD Medical Group Investments Plc Tel: +7 495 331 4120d.yakushkin@mcclinics.ru | EMTom Blackwell: +7 919 102 9064 Sergii Pershyn: +1 929 855 8188 MDMG@em-comms.com |
About MD Medical Group
MD Medical Group is a leading provider in the highly attractive Russian private healthcare service market. The company manages 36 modern healthcare facilities, including 5 hospitals and 31 outpatient clinics in Moscow and the Moscow Region, St. Petersburg, Ufa, Perm, Samara and the Samara Region, Irkutsk, Novosibirsk, Irkutsk, Yaroslavl, Ryazan, Kostroma, Novokuznetsk, Krasnoyarsk, Omsk, Barnaul, Vladimir, Tyumen, Voronezh, and Nizhny Novgorod.
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.