MDMG increases share in subsidiaries
17 April 2018, Moscow - MD Medical Group Investments Plc ("MD Medical Group", "MDMG" or the "Company" - LSE: MDMG), a leading Russian private healthcare provider, announces that it has completed a buyout of non-controlling stakes (from 15% to 30%) in a number of subsidiaries controlled by it in Moscow, St Petersburg, Ufa and Perm from minority shareholders.
The buyout is being carried out as part of the Group's restructuring, aimed at consolidating subsidiaries. The total amount of the purchases was USD 12.335 mln, financed using the Group's own funds. The buyout has been approved by the Federal Anti-Monopoly Service of Russia.
For further information please contact:
MD Medical Group Investments Plc
Tel: +7 495 331 4120
Sergii Pershyn: +1 929 855 8188
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.
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.
This information is provided by RNS