Moscow, Russia, May 30, 2012
—IFC, a member of the World Bank Group, is investing $35 million in the equity of Russian healthcare services provider Medicina to expand access to modern diagnostics and treatment services in Moscow.
Medicina is building a new clinic in Moscow and a major oncology center in the suburb of Khimki, expanding access to cancer diagnostics and treatment for local residents. Training facilities in Khimki will help share advancements in oncology among the local medical community and raise the standard of care for cancer patients.
During the first year of operation, the new clinic in Moscow will create 50 new jobs.
“The opening of the new Medicina clinic building, where the latest medical technologies will be implemented, including a state-of-the-art diagnostic center with MRI machines and PET/CT, combined with the innovative IT-infrastructure covering building engineering systems, and advanced hybrid operating theater, makes a qualitative leap in the development of Russian medicine,” said Professor Grigory Roytberg, Medicina founder and principal shareholder.
Dimitris Tsitsiragos, IFC Vice President for Europe, Central Asia, the Middle East and North Africa, said, “Modern healthcare is an integral part of people’s well-being. We support Medicina’s efforts to expand the spectrum of available diagnostics and treatment, and hope that the success of this project will showcase to other investors that private healthcare in Russia is a good business from both the social and financial points of view.”
This investment is part of IFC’s work in Russia to support private sector development and encourage economic growth. The country became a member and shareholder of IFC in 1993. Since then, IFC has invested nearly $6 billion in Russia, including $1.5 billion in syndicated loans, and is involved in 250 projects across a variety of sectors. IFC’s investment portfolio in Russia stands at $2.54 billion, the third-largest country exposure for IFC globally.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
JSC Medicina was established in 1990, and today is the only Russian clinic accredited in accordance with JCI international standards of medical care. JSC Medicina is certified according to international quality management standards ISO 9001:2008. It is a winner of the Recognized for Excellence 5 Stars Award according to the European Foundation for Quality Management (EFQM) Excellence Model and is a member of the Swiss Leading Hospitals Association. In 2010 the clinic became a laureate of the Russian Government Quality Award. The Clinic employs over 300 doctors of 44 specialties (including full-time employees, part-timers and consultants).