Mark Kurtser, a 59-year-old Russian gynecologist, has become a
billionaire after shares of his MD Medical Group Investment Plc,
Russia’s largest private provider of women’s and children’s health care,
surged 42 percent in five months.
Kurtser, MD Medical’s chairman, controls 68 percent of the operation through Cyprus-based investment entity MD Medical Holding. The company sold shares in a London initial public offering in October, raising $154 million for expansion. The billionaire collected another $135 million from the IPO.
“I did not imagine it when I was starting this business,” Kurtser, who is worth $1 billion, said in a telephone interview. “I am a doctor first.”
Kurtser founded the company as a private Moscow hospital in 2006. Today, MD Medical runs 13 medical centers in Russia and Ukraine, offering childbirth, gynecological and in vitro fertilization services. It generated ($117 million) in revenue in the 12 months ended June 30, 2012, up 48.6 percent in a year. The company’s net income doubled in three years.
Kurtser, MD Medical’s chairman, controls 68 percent of the operation through Cyprus-based investment entity MD Medical Holding. The company sold shares in a London initial public offering in October, raising $154 million for expansion. The billionaire collected another $135 million from the IPO.
Russian gynaecologist Mark
Kurtser speaks with President Vladimir Putin during a visit to a
maternity hospital in Lapino.
Kurtser founded the company as a private Moscow hospital in 2006. Today, MD Medical runs 13 medical centers in Russia and Ukraine, offering childbirth, gynecological and in vitro fertilization services. It generated ($117 million) in revenue in the 12 months ended June 30, 2012, up 48.6 percent in a year. The company’s net income doubled in three years.
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