Vedomosti compiled the first rating of the most dynamic medical companies

The market for paid medical services has been growing steadily over the past five years, except for the Covid-19 year of 2020. In 2018, according to Rosstat, its volume was 774 billion rubles, and by 2022 this figure had already grown to 1.22 trillion rubles. Vedomosti analyzed the activities of the largest medical companies in Russia during this period and compiled a rating of the most dynamic medical companies in Russia.

The long list included the 20 largest companies by revenue in 2022. Next, six indicators were taken into account: company size, revenue growth rate from 2018 to 2022, share in the total revenue growth of 20 companies, growth rate in the number of clinics over five years , share in the total increase in the number of clinics for 20 companies, dynamics of revenue per one clinic in the network. Each of the six metrics was scored on a 20-point scale. The companies with the highest scores were included in the top ten.

The leader of the rating, Medsi Group of Companies, has the highest indicators in terms of share in the total increase in revenue and share in the total increase in the number of clinics among 20 companies from the long list. Medsi managed to carry out several striking transactions that allowed it to strengthen its position as a market leader, says Maria Kolomentseva, a consultant at the analytical company Eqiva. But at the same time, the country’s largest medical company’s revenue per location decreased by 44%. This suggests that the new locations turned out to be less powerful than the group’s existing assets, the expert explains.

Over the past year, the largest market players in terms of revenue (Medsi, Mother and Child, SM-Clinic, EMC, Medinvestgroup Group of Companies) managed to increase their revenue by a total of 13% to RUB 125 billion. (in 2021 it was 111 billion rubles). And since 2018, this figure has increased by 120%. According to Kolomentseva, these companies, with the exception of EMC, were actively growing through the opening of new outlets or mergers and acquisitions. If we calculate the dynamics of the revenue indicator per point (even at current prices), we will see that the “Mother and Child” strategy turned out to be the most effective, the analyst believes. The group consistently opened new centers with an area and capacity no less than those that its assets already had before. As a result, it achieved a revenue growth per point of 27% over five years, the analyst calculated. And when calculating the average annual growth rate (CAGR) over the past five years, it turns out that the most striking result of organic growth was shown by SM Clinic – 32%, Kolomentseva noted.

The medical business is growing despite the sanctions that Western countries imposed on Russia after the start of a special military operation in 2022. This led to the suspension of the supply of some foreign medical equipment to the country. For example, this is what the largest manufacturers of MRI machines did – the Dutch company Philips and the German Siemens, the Brussels publication EU-Chronicle reported. In addition, the sanctions provoked logistical problems, the BusinesStat representative added. As a result, prices for medical services have increased significantly, he said. The company did not provide specific values.

Some patients moved to clinics in a lower price segment, while others began to be treated only under compulsory medical insurance policies, the agency representative clarifies. As a result, in 2022, the number of patients in commercial clinics decreased by 2% compared to the level of the year before and amounted to 48 million people, BusinesStat calculated. In 2023, the company predicts a further decline in the number of clients “due to limited solvency in the context of the sanctions crisis” by 1.3%.

The factors that will determine the development of the market in the next few years are consolidation and the attraction of external investors, Eqiva says. But if previously consolidation occurred through the purchase of mid-market businesses by large players, now they are more interested in absorbing large-scale assets (with revenues of more than 1 billion rubles) or merging with players of other profiles, for example, laboratories. The interest in medicine of non-core investors was first fueled by the pandemic, and now by the inability to invest outside the country. Therefore, both banks and the largest corporations (for example, “Rosatom“, “Medscan” and “Sber”) are actively investing in this area.

Date of foundation: 1996

Supervisor: Elena Brusilova

The largest network of private clinics “Medsi” for September 2023 unites 138 medical centers in various regions of Russia, for example in the Moscow region, Volgograd, Vladikavkaz, Perm. The group’s assets include primary care clinics, clinical diagnostic centers, children’s clinics, clinical hospitals, SmartLab digital clinics, and home care services. At the end of the first half of 2023, the network’s revenue amounted to 20 billion rubles. This is 15.7% more than the same period last year. The group’s bonds are listed on the Moscow Exchange. Plans for the company to enter an IPO were announced back in 2014, but have not yet been implemented.

Date of foundation: 2017

Supervisor: Alexander Andryushechkin

Main owner: MKOO “Ogment Investments Limited”

Medinvestgroup specializes in investing in various projects in the healthcare sector, in particular nuclear medicine, radiation therapy, as well as multidisciplinary clinics. The group unites the PET Technology nuclear medicine centers, as well as the K + 31, Lyadov Clinics, and MIG Clinics. Among the regions where the company operates are, for example, Rostov-on-Don, Vladimir, Yekaterinburg. Until 2020, the network belonged to the main owner of Pharmstandard (one of the largest pharmaceutical manufacturers) Viktor Kharitonin.

Date of foundation: 2011

Supervisor: Dmitry Fomin

Co-owners: Evgeny Lisitsyn, Marianna Borisycheva, Dmitry Fomin

The federal network “Fomin Clinic” was founded by gynecologist Dmitry Fomin. The first clinic under this brand was opened in Tver. Today the group owns various assets, including medical centers, a genetic laboratory, and hospitals. Its branches are located in 12 cities of Russia. In 2023, the network acquired the Rassvet evidence-based medicine center with an area of ​​2000 square meters. m in the Presnensky district of Moscow. The deal was in line with the network’s long-term development plans “toward diversification.”

Date of foundation: 2014

Supervisor: Sergey Ivanchenko

Co-owners: Evgeny Tugolukov and Rusatom Healthcare (part of the state corporation “Rosatom“)

The Medscan holding unites 58 medical centers and 442 laboratory offices in 30 regions of Russia. The group’s assets include diagnostic centers, hospitals with surgical facilities, multidisciplinary and specialized clinics, including oncology clinics. At the end of the first half of 2023, the network’s revenue amounted to 11.3 billion rubles. This is 22% more than the same period last year.

Date of foundation: 2007

Supervisor: Elena Latysheva

Co-ownersStars: Elena Latysheva, Lyudmila Retinskaya, Valeria Pasechnaya

The idea of ​​​​creating the Expert MRI diagnostic center belongs to radiologists Andrei Korobov and his wife Valeria Pasechnaya. They implemented the project together with entrepreneur Elena Latysheva. Currently, the group unites 17 clinics and 46 diagnostic centers in 34 regions of Russia, including Kaliningrad and Yuzhno-Sakhalinsk. By the end of 2023, the number of points will be increased to 70, a representative told Vedomosti about the network’s plans. According to the company’s own data, its clinics are visited by more than 1 million patients a year. The number of network employees is 3,600 specialists.

Date of foundation: 2007

Manager and main owner: Vitaly Volkov

“Ekaterininskaya” is one of the largest private networks of clinics in the Krasnodar region. It includes multidisciplinary medical centers, a maternity hospital, dentistry, a radiology center (CT and MRI), reproduction and cosmetology centers, as well as a clinic in Sochi. In 2022, the network acquired a controlling stake in OJSC “Center for Restorative Medicine and Rehabilitation “Krasnodar Balneotherapy Hospital” with the attraction of loan funds from the bank VTB. Ekaterininskaya patients have access to 2,000 different studies. The number of network specialists is 763 people.

Date of foundation: 2002

Manager and owner: Nikolay Smyslov

The history of the medical holding “SM-Clinic” began with a dental office with an area of ​​750 square meters. m. Today the group includes 28 clinics for adults and children in five regions of the country, including Moscow, St. Petersburg and Ryazan. According to the company’s own estimates, more than 600,000 patients visit its clinics per year. The network employs about 4,000 doctors. “SM-clinic” cooperates with insurance companies “Renaissance” and “Ingosstrakh“

Date of foundation: 1989

Supervisor: Andrey Yanovsky

Main owner: Igor Shilov (according to latest data)

The European Medical Center (EMC) was founded to provide medical care to foreigners on the basis of the capital’s polyclinic No. 6. Initially, receptions there were carried out mainly by foreign doctors. The owner of the company was French businessman Andre Kobuloff. In 2006, he sold the company to the pharmacy chain “36.6”, and that, in turn, in 2008 – to ex-Nidan shareholder Igor Shilov. At the moment, the network has 600 doctors from various countries, including Russia, the USA, and Israel. The group includes 12 points in Moscow and the Moscow region, including seven multidisciplinary medical centers, three geriatric centers, a maternity hospital and a rehabilitation center. At the end of the first half of 2023, the network’s revenue in rubles increased by 0.9% to 11.5 billion, and in euros it decreased by 0.4% to 139.2 million.

Date of foundation: 2006

Supervisor: Mark Kurtzer

Owner: MD Medical Group Investment

The largest network of private clinics, Mother and Child, was founded by obstetrician-gynecologist Mark Kurtser. As of September 2023, it unites 49 medical institutions, including 10 multidisciplinary hospitals and 39 outpatient clinics operating in 27 cities of Russia. The network specializes in providing assistance in the following areas: cardiology, oncology, surgery, traumatology, obstetrics, gynecology and pediatrics. The group’s global depositary receipts have been traded on the Moscow Exchange since 2020. In the first half of 2023, the group’s revenue increased by 5.7% year-on-year and amounted to RUB 12.8 billion.

Date of foundation: 2004

Manager and owner: Mikhail Zykin

The Light network unites adult and children’s clinics, a professional center (conducts medical examinations to issue certificates for work, study, etc.), as well as a dental clinic. Its branches are located in Perm and Kirov. According to the company’s own data, in 2022, 29,410 MRI/CT procedures were performed within its walls, 13,404 injections were given, and 2,139 liters of blood were taken. In total, the network provided more than 1 million medical services to its patients. The company employs more than 160 specialists.