RDIF, Digital Medical Services and Doctis to establish a joint telemedicine platform
Moscow, October 30, 2020 – The Russian Direct Investment Fund (RDIF Russia’s sovereign wealth fund), Digital Medical Services and Doctis announce the launch of a joint venture to develop a telemedicine services platform. The platform will utilize the infrastructure of the network of MD Medical Group.
Remote consultations will be provided both as part of the compulsory health insurance program and in the form of commercial services (including via the Public Services Portal).
Under the terms of the agreement, Doctis will transfer the exclusive rights of company’s information system to the joint venture, and Digital Medical Services will provide expert and methodological support to meet the standards of public health systems and services.
“The demand for medical services using advanced digital technologies is growing, especially given the restrictions during the coronavirus pandemic. The Fund’s investments in MD Medical Group and the Doctis project, as well as their subsequent successful development, have created the basis for further scaling-up the telemedicine platform, maintaining the high quality of services and ensuring the availability of advanced medical technologies in the market which will soon exceed 100 million people”.
“The burden on the health care system has grown significantly due to the pandemic, and due to the scale of the spread of the disease it has led to a shortage of doctors and resources. Under the current restrictions, it is undesirable for elderly people to visit crowded places, including medical institutions and they are advised not to leave home. In these circumstances, remote medical consultations have become the safest and easiest way to get help and their demand has increased many times. Our joint work as part of the joint venture, pooling resources, expertise and opportunities to develop a telemedicine platform will help reduce the burden on the healthcare system, increase the availability and efficiency of remote medical care”.
“Analysts estimate the Russian telemedicine market at 1.5 billion rubles in 2019. The COVID-19 pandemic has stimulated the growth of remote medical consultations market, which is expected to grow exponentially. Thus we have decided to launch our own medical platform together with Doctis. Services will be provided both under the compulsory health insurance program and as part of commercial services, including those provided through the Public Services Portal”.
The joint venture intends to introduce a doctor-patient telemedicine consultation platform based on the network of MD Medical Group clinics, Doctis’ main medical partner as well as state medical institutions.
“The joint venture with Digital Medical Services is another step in the development of Doctis telemedicine service, which is already used by 1200 doctors of MD Medical Group and other leading clinics. Telemedicine consultations are an excellent tool to modernize the entire primary health care system in the country, which will increase the availability of qualified medical care for the majority of Russia’s population”.
The joint venture combines an expert base for the development of promising telemedicine products and services, a software development center that enable online medical consultations, as well as technology development management offices.
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.9 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn. Further information can be found at rdif.ru
Digital Medical Services is a subsidiary of RT Labs JSC (part of PJSC “Rostelecom”) and National Informatization Center LLC (part of Rostec State Corporation). The main target of the company is the development, implementation and operation of information systems and their components in the healthcare sector.
Doctis is a multifunctional healthcare online platform. It operates an online medical centre that allows patients to comprehensively evaluate and track their health. It partners with the state and private clinics and experts to provide services based on user's personal medical data, utilizing a single online medical data storage system, which includes medical records of all family members. doctis.ru.
State Corporation Rostec is one of Russia’s largest industrial companies. It unites more than 800 scientific and industrial organizations in 60 regions. Key areas of activity are aircraft manufacturing, radio electronics, medical technologies, innovative materials, etc. The corporation's portfolio includes well-known brands such as AvtoVAZ, KAMAZ, UAC, Russian Helicopters, UEC, Uralvagonzavod, Schwabe, Kalashnikov Concern, and others. Rostec actively participates in the implementation of all 12 national projects. The company is a key provider of Smart City technology, it is engaged in digitalization of public administration, industry, social industries, and is developing plans for the development of 5G wireless technologies, industrial Internet of things, big data and blockchain systems. Rostec is a partner to the leading world manufacturers such as Boeing, Airbus, Daimler, Pirelli, Renault, etc. The products of the corporation are delivered to more than 100 countries. Almost a third of the company's revenue comes from the export of high-tech products. Further information can be found at https://rostec.ru/en/