WoE: KDL and the march of Russia's medical lab services business
Russia has many flourishing sectors like oil and agriculture, but the rise of the middle class has given rise to increasingly sophisticated services.
bne IntelliNews editor-in-chief Ben Aris talked to KDL’s CEO Yuri Leonov, who runs one of Russia’s largest privately owned medical laboratory service companies. While the state is obliged to provide free health care to everyone, Russians are willing to pay for better service and more sophisticated results.
The EBRD and UFG Asset Mangers invested in the company in 2012 and now it is a top two player with $75mn turnover, and growing at over 30% a year. But the sector is in no way consolidated as the race is on to capture market share before the inevitable M&A and IPOs start.
Ben Aris, bne IntelliNews editor-in-chief
Yuri Leonov, CEO KDL
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