Russia's MD Medical Group, which owns the clinic chain “Mat’ I Ditya” in Russia, has raised $311 million for new and existing shares (about 35%) at initial public offering in London. The global depositary receipts (GDRs) were traded at $ 12, what put the clinic’s market capitalization at around $ 900 million.
MDMG was set up in 2010 and is controlled by Mark Kurtser a senior official in Moscow's health service. The group runs nine clinics, including Moscow's Perinatal care centre and such clinic chains as Mat' i Ditya, Ivamed, Clinic of Health and Dilamed.
The revenue of MDMG has raised 42% up to 2.91 billion Rubles, the net profit has increased 26% up to 924 million Rubles, reports Forbes.ru.
Author: Irina Fomina