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Baring Vostok Private Equity Fund IV joined EMC's share capital

The Baring Vostok Investment Fund acquired a 27.8% stake in the United Medical Group Ltd. holding company, which is the parent company of the European Medical Center Group (GEMS). The deal amounted to $100 million. The amount and structure of the transaction are unprecedented in the Russian medical services market. The purpose of the deal is to finance GEMS projects with a planning horizon until 2015.

Baring Vostok Funds specialize in investments in Russia and other CIS countries. Baring Vostok's long-term investors include pension and university funds from the United States, Western Europe, and Asia. Since 1994, Baring Vostok Funds have invested more than $1.6 billion in 56 projects, including a number of successful companies in the financial services and oil and gas industries, telecommunications and media, and the consumer sector. Currently, the funds' attracted capital is $2.2 billion. Among the projects of the Baring Vostok funds are CTC Media, Golden Telecom, Yandex, Gallery Group, Ozon, Enforta, CFT, ER-Telecom, 1C, Barren Energy, Volgagaz, Zhaikmunai, Kaspi Bank, Vostochny Express Bank, Europlan, Novomet and many others. In 2011, Baring Vostok's investment in Yandex was recognized by the Investor Allstars Venture Capital Awards as the best venture capital investment. The investment advisor to the funds is Baring Vostok Capital Partners (Guernsey), which was recognized by readers of Private Equity Online and Private Equity International as the "Russian Direct Investment Company of the Year" in 2005, 2006, 2007, 2008, 2009 and 2010. Her advisor is Baring Vostok Capital Partners (Cyprus), which employs more than 30 investment professionals in its Moscow office.

GEMC was founded in 1986. In 2008, GEMS was acquired by the owners of Nidan Holding from the 36.6 Group of companies. The deal in 2008 amounted to $106.5 million. In 2008, GEMS included a multifunctional general clinic with a 14-bed hospital and a dental center. In the period from 2008 to the present, several major investment projects have been implemented within the framework of GEMS. In September 2009, a new multifunctional GEMS hospital was opened with a 30-bed hospital, a diagnostic department, including computer and magnetic resonance imaging, and an emergency and emergency department. In the same year, the European Clinic of Sports Traumatology and Orthopaedics (ECST) began operating under the supervision of Professor, MD Andrey Korolev. In 2010, a Women's Health Center was established under the leadership of renowned French obstetrician-gynecologist Jacques Peter, and in early 2011, an Aesthetic clinic was opened under the leadership of plastic surgeon Sergey Levin. Currently, the total number of GEMS beds is 72 beds. According to the results of 2011, the GEMS customer base includes 80 thousand patients. GEMS provides care to more than 40,000 patients annually. More than 5,000 people were treated in GEMC hospitals in 2011. Last year, 3.8 thousand surgical procedures, 50 thousand instrumental tests were performed at GEMC clinics, including: 7 thousand MRI examinations, 4.8 thousand MSCT examinations, 6 thousand endoscopic examinations and manipulations, 19 thousand X-ray and ultrasound examinations, as well as more than 350 thousand laboratory tests. GEMC medical team is a multinational team of doctors from Russia, France, the USA, Germany, Israel, and Japan. GEMC has 16 professors of medicine and more than 30 candidates and doctors of medical Sciences. Currently, the GEMC team consists of more than 900 people.

Since 2008, GEMC's revenue has increased 4 times and amounted to $80 million in 2011, which is 48% higher than in 2010. The EBITDA margin in 2011 was $25.6 million, or 32%. Revenue growth in the 1st quarter of 2012 was 46% compared to the same period in 2011.

The following projects are planned to be implemented as part of the GEMS development program until 2015:
  • A multifunctional hospital in a building with a total area of 15.5 thousand square meters. This center will include six clinics in the following areas: oncology, urology, obstetrics and gynecology, mammology center, dental center, general clinical unit. The center will have an 80-bed hospital, an operating unit with 5 operating rooms, an intensive care unit with 12 beds, a diagnostic department including the latest generation of MRI from Siemens and MSCT from Phillips, a department of chemotherapy and hematology, and a radiotherapy department consisting of two Varian linear accelerators of the latest generation. The center's operating unit will be equipped with a multifunctional Da Vinci surgical system for performing robotic endoscopic interventions. The center is scheduled to open in the 2nd quarter of 2012;
  • A children's center, including an outpatient clinic, an emergency and emergency department, and an 18-bed hospital. The opening is scheduled for the 3rd quarter of 2012;
  • Multifunctional polyclinic in a building with a total area of 5,000 square meters in the Solntsevo district of Moscow. The center is scheduled to open in the 3rd quarter of 2013;
  • Positron Emission Tomography Center (PET Center), including two PET/CT scans, a radiochemical laboratory, and a cyclotron for the production of radiopharmaceuticals. The center is scheduled to open in the 4th quarter of 2013;
  • A multifunctional center for children's and women's health (perinatal center), including a prenatal center, a maternity hospital with 60 birth beds, a children's hospital, a pregnancy pathology center, and a postpartum rehabilitation center. The center is scheduled to open in the 4th quarter of 2014;
  • A multifunctional rehabilitation center, including a 100-room hotel complex and a medical and wellness complex. The rehabilitation center will be located in the nearest Moscow region on an area of 5.5 hectares. The opening of the center is scheduled for the 2nd quarter of 2015.

The GEMC development model also provides for the opening, together with partners, of the Moscow International Institute for Advanced Training and Retraining of Medical Specialists with the involvement of professors and practitioners from the European Union (EU), the USA, Canada, Japan, and Israel. Long-term cooperation with major foreign medical specialists within GEMC's own clinics will allow the Group to organize these training programs at an expert level. The institute will have a simulation center that has no analogues in terms of equipment.

GEMC's specialized international relations department, GEMC Assistance, allows for fruitful cooperation with leading clinics and specialists in the developed countries of the world. The service also supports patients in treatment abroad, then supervising them within the GEMC clinics.


The dynamic development of the company and the growth of GEMC's capitalization are driven by European standards of medical management, active investment in new high-tech projects with the introduction of innovative medical equipment and the use of effective drugs, as well as the involvement of highly qualified doctors from developed countries and Russia. The favorable tax regime associated with the abolition of income tax in 2011 also contributes to the financial stability of the company.


GEMC's development strategy implies taking a leading position in the segment of providing private medical services in Russia. The company also plans to hold an IPO in the coming years. Thus, GEMC can become the first public private medical company in the CIS countries.

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Questions and answers

How to lose weight correctly
I am 53 years old, my weigh is 116 kg. In 1988, my metabolism was probably, disturbed following the first childbirth. I gained weight, and since then I have been trying to fight with it periodically. I eat a lot of sweets however glucose is now normal and it always was. With age, my legs and back started to hurt me,
it is hard to “move” myself. I have undergone an examination in the district hospital, but nothing special was found. What tests and examinations I should bring to the doctor to get a diagnosis and treatment? Thank you!
...more
Unfortunately, doctors not always can find the cause of excess weight. But this does not mean that there are ways to deal with it. Of course, it is not easy, but you definitely should try! At the first consultation it is desirable to have blood tests results, obtained no more than 6 months ago, total cholesterol,
glucose, glycated hemoglobin. Notes in the diary of blood pressure for 1-2 weeks are also important. Most likely, the doctor will arrange some additional examinations at visit, but everything is very individual and it's better to discuss all details with the doctor personally. You surely have to bring the results of previous all examinations with you.
...more
Novikova Polina
08 September 2016
Question about ultrasound
I am 36 years old. Thyroid gland ultrasound: topography: position is regular, the right lobe is enlarged W-24 mm, t-22 mm, l- 51 mm, the volume is 12.90 cm3, left lobe enlarged, W -23 mm, t-23 mm, l-56 mm, volume is 14,90 cm3, isthmus thickness is 5 mm, the total volume is 27.09 cm3, alignments are even,
echostructure is inhomogenous, echogenicity is normal, focal masses are not seen, lymph nodes are not seen, conclusion; ultrasound signs of diffuse changes in the enlarged thyroid gland. TSH 2.10 mcIU/ml (normal range 0.30-4.00). The doctor prescribed Iodocomb 50/150 for 3 months. I have been taking the medicine for 2.5 months, but TG does not seem to diminish in size and I feel discomfort (it’s like a need to stretch my neck). Whether the treatment prescribed is correct? Are any additional tests needed? Should I have my thyroid gland diminished for those 2.5 months or it is too early to talk about it? Thank you!
...more
It's hard to advice any treatment by correspondence. The cause of the thyroid gland enlargement is still unclear based on the results provided. The most common cause is iodine deficiency and Iodocomb treatment is appropriate in this case. Another cause is a chronic autoimmune thyroiditis which requires different
treatment. Endocrinologists at EMC will advise you and decide on the types of treatment and necessary doses.
...more
Russ Irina
08 September 2016
Arthrosis
My left jaw started to hurt me after giving birth. The pain was accompanied by a crunch, clicks, discomfort when chewing. Arthrosis was diagnosed at local institution. What should I do?
The symptoms of pain and the crunch may occur following precipitating factors. It can be a trauma of the maxillofacial area, ENT-organs infections, sitting with mouth open for a long time when visiting the dentist, hypothermia, overload. Perhaps, pregnancy and childbirth were such a factor in your case. The treatment
goal in arthrosis is to reduce the load in temporomandibular joint. Treatment depends on the cause or the complex of causes that triggered the arthrosis. This may be due to the anatomical mismatch between the articular head size and the glenoid fossa. This also can be due to the long-term overload resulted from irregular bite and muscle imbalance. If increased tone of the masticatory muscles has led to increased abrasion of teeth, method of treatment with the restoration of the chewing surfaces and cutting edges of all teeth is optimal. But before that, splint therapy (mouth guards) is mandatory, which ensures the optimal position of the articular heads in articular fossae. Treatment is designed depending on the cause of changes in the joint. If the irregular bite is present pre-treatment by the orthodontist may be worthwhile.
...more
Problems with teeth
I have a huge problem with my teeth - all the teeth were treated, metalless ceramics were fixed in some places, a few teeth need to be removed. The treatment was carried out abroad, but the caries problem was beyond control, despite regular professional hygiene and specially selected tools. What range of dental
examinations, in addition to specialist’s consultation, I can count on in EMC Moscow?
...more
Various dental diagnostic methods are available in our Dentistry Department: computed tomography of all teeth of both jaws, which gives a three-dimensional image and allows the doctor to more accurately diagnose; orthopantomography gives a flat image of all the teeth; the targeted x-ray tooth image. Tooth extraction
is performed surgically, mostly under local anesthesia. Diagnostic and treatment methods are determined individually by the attending doctor on consultation. Thank you for your message!
...more
How soon I may drive after LASIC?
When can I ride a car after LASIK?
Eyesight recovery is quite fast. Visual acuity is almost completely restored next morning, and most people can drive a car and get to work.
Elias Raid
08 September 2016

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end of the study, we worked in a coordinated, professional and friendly manner.
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He came back with severe pain in the neck. The diagnosis revealed an intervertebral hernia. The very next day, the operation was carried out, everything was very fast. After the operation, he was surrounded by nurses. I would especially like to express my gratitude to:
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Dr. Marina Sharova = A+++++! Highlights => super knowledgeable! Confident! Professional! Mother-type! Truly terrific bedside manner! Spends endless time with moms! A wonderful choice for all, especially first time moms and foreigners who only speak English! Special thank you to
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