The amount Russians spend privately on healthcare services has doubled in five years and EBITDA margins can reach 40-50% for operators, yet the market remains deeply fragmented with many fairly unsophisticated operators and no national chains. Emmett, a former VP at Medsi, the biggest Russian healthcare group, has a decade’s experience of investing in healthcare services in Russia and Eastern Europe and now works both for investors and for operators. The former sector leader for health at IFC, the commercial bank arm of the World Bank (and world’s largest investor in emerging markets healthcare), Emmett was previously head of KPMG’s Healthcare Performance Improvement division.



