Moscow, Russia– 22 June 2018 – During the official visit of the President of the Republic of Korea to the Russian Federation, leading South Korean healthcare company Severance Hospital (“Severance”), leading Russian healthcare company JSC Medsi Group (“Medsi”), Sistema PJSFC (“Sistema”) and the Russian Direct Investment Fund (“RDIF”) signed a Cooperation Agreement (the “Agreement”) aimed at creating a modern diagnostic centre using the most advanced medical technologies and employing Russian and global best practices in the field of preventive medicine.

The Agreement was signed in the presence of the President of the Russian Federation Vladimir Putin and the President of the Republic of Korea Moon Jae-in by the Severance Hospital General Director Byung Seok Lee, Medsi Chairman of the Board Artem Sirazutdinov, Sistema President Andrey Dubovskov and RDIF CEO Kirill Dmitriev.

The parties will cooperate on the project to create a multidisciplinary innovative diagnostic medical centre in the Russian capital that will provide a level of medical care in line with the most modern global practices in diagnostics and treatment. Plans call for Medsi Group, a Sistema portfolio company, to manage the clinic.

Within two months of the signing of the Agreement, the parties intend to prepare and approve a roadmap for the implementation of the project.

The parties also intend to consider the possibility of developing a joint clinic within the framework of the project to create an international medical cluster in Otradnoye near Moscow that is currently under discussion, with financial support for the clinic provided by RDIF.

“Severance Hospital is one of the most active hospitals for overseas medical exchanges and wants to establish medical cooperation in various fields with Russia. Therefore, I think that the cooperation for the establishment of the Moscow Diagnosis Center will be a good opportunity for Severance Hospital and Russia to cooperate for mutual medical development, and I think it will be an opportunity to practice our mission of Severance Hospital, "Free mankind from disease with God's love." We look forward to the success of this collaborative project in the future, and look forward to a closer partnership between the Russian Direct Investment Fund, Sistema, and Medsi,” said Byung Seok Lee, General Director of Severance Hospital.

“Medsi Group's top priorities include the comprehensive furtherance of the development of modern medical technologies, the introduction of advanced medical practices and the expansion of long-term cooperation in order to improve the quality of medical diagnostics. The Group employs global best practices on the basis of its centres of excellence at Medsi clinical and diagnostic centres, clinics and hospitals. The strategic partnership with Severance Hospital will open up new opportunities for us to strengthen our competences in various fields of high-tech medicine, including high-precision diagnostics in oncology, cardiology and traumatology. We are confident that this joint project will be successfully implemented,” said Elena Brusilova, President of Medsi Group.

“This agreement once again confirms that Sistema and its subsidiaries are the Russian partners of choice for leading international companies. The signing of this agreement was preceded by several months of active work between Sistema and our Korean partners. We see excellent opportunities for creating and increasing shareholder value in our healthcare business, including through cooperation with leading international medical institutions,” said Andrey Dubovskov, President of Sistema.

“RDIF pays special attention to attracting investments in key areas such as technological development and quality of life improvement. This project combines the unique experience and advanced technologies of South Korean partners with the capabilities of Russian partners. Not only will it make a significant contribution to the creation of flagship medical institutions, but will also help improve the accessibility of high-quality medical services and development of preventive medicines,” said Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF).

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