The AFK Sistema group is weighing the option of drawing investors into the Medsi network of clinics and medical centers by the close of 2024, as disclosed by Tagir Sitdekov, head of AFK Sistema, in remarks to RBC during the Eastern Economic Forum. The potential move underscores AFK Sistema’s confidence in Medsi’s growth trajectory and the strategic value of consolidating a broad healthcare footprint under a single, nationally reachable platform.
Reportedly, Medsi showed strong momentum in the first half of 2023, with revenue rising 15.7 percent to 20 billion rubles and OIBDA climbing to 3.4 billion rubles from 2.9 billion rubles in the comparable period a year earlier. These figures reflect a robust expansion of patient services and operational efficiency, indicating the network’s ability to translate increased demand into improved earnings before interest, taxes, depreciation, and amortization.
The improving financial metrics were driven by several strategic levers. The network expanded the capacity and utilization of its medical centers, broadened home-based medical care offerings, and advanced telemedicine, laboratory services, and pharmaceutical operations. These initiatives not only diversified revenue streams but also enhanced patient access and convenience, reinforcing Medsi’s position as a comprehensive, multi-channel healthcare provider.
According to a Medsi representative, the network now comprises 142 clinics across Russia, with 64 located in Moscow and the surrounding region and 78 situated in other regions. The company also reported a 13 percent year-over-year increase in the number of unique patients treated in the first half of the current year, surpassing 975,700 individuals. This growth signal points to the scale-up in patient reach and the network’s penetration beyond major urban centers into more diverse regional markets.
In terms of capability, Medsi has equipped its clinics with advanced medical technology and integrated high-end clinical practices. The network hosts over 40 centers of excellence spanning reproductive medicine, trauma and orthopedics, neurosurgery, endoscopy, oncology and chemotherapy, and endovascular x-ray procedures. This breadth of specialized services positions Medsi as a go-to provider for complex care needs and for patients seeking high-quality, technologically driven treatment options.
Strategically, the company emphasizes the ongoing development and deployment of digital services. This digital focus aligns with broader healthcare trends that favor remote monitoring, telehealth, digital records, and data-driven care pathways, enabling more efficient patient management, improved outcomes, and enhanced patient engagement across locations.
AFK Sistema’s communications team noted that the Medsi asset has already drawn investor interest. In particular, bond issuances by Medsi this year attracted demand that significantly exceeded supply, signaling strong market appetite for the company’s credit and a belief in its growth prospects. Such investor enthusiasm reflects confidence in Medsi’s earnings potential, balance sheet strength, and the strategic value of expanding the network to serve a wider patient base while continuing to invest in digital and clinical capabilities that support sustained long-term performance.