Page 105 - RusRPTOct19

making the fastest top line growth for the reporting period in five years.
The company attributed the growth to continuing growing loading of its hospitals in the cities of Samara and Novosibirsk, the clinical hospital Lapino in Moscow, and of ambulatory clinics. As reported by bne IntelliNews, the competition in the private healthcare market is gearing up. Last year MD's main competitor Medsi became the largest player in terms of revenues. Medsi also recently unveiled plans to start a franchising programme to beat MD's geographic coverage. Medsi posted 40% revenue growth in 1H10 to RUB10.7bn, due to a boost of 70% of provision of medical services covered by mandatory medical insurance. MD's Ebitda in the reporting period gained 15% y/y to RUB2.1bn, with margin gaining 1.3pp to 27.5% due to cost optimisation. By 2021 the company plans to open 10 hospitals across the country in addition to 6 hospitals and 34 ambulatory clinics currently operated.
105 RUSSIA Country Report October 2019 ww.intellinews.com