Russians Having Babies at Home Has BofA Backing MD Medical
- Weaker currency helps make MD Medical more competitive
- Company may consider secondary share sale to fund growth
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The number of babies born in MD Medical Group Investments Plc’s private hospitals from Moscow to St. Petersburg rose 25 percent in the first nine months of the year -- catching the attention of investors and brokers including Bank of America Corp.
Business is booming at Russia’s largest private chain of mother-and-child centers as the ruble’s 35 percent slide in the past year makes it less feasible for some of the country’s wealthier women to travel to the U.S., Europe or Israel for maternity care. MD Medical has plans to lure clients by bringing deluxe services to the doorsteps of Russian parents in more of the nation’s 85 regions.