Business · Companies · 3 hrs ago
Alfa-Bank buys 4.85% stake in Medsi ahead of planned IPO
Alfa-Bank bought a 4.85% stake in Medsi, a large private clinic group in Russia.
The shares came from Sistema, which retains control with a 90.64% stake.
The purchase is part of preparations to bring Medsi to the stock market, and a Skolkovo fund also took part in the pre-IPO investment round, according to a person close to the deal.
The price was not disclosed, and estimates from market experts range from 3.3 billion to 6 billion rubles.
Sistema says the new investors are intended to support preparations for a public listing, rather than simply to let existing shareholders sell shares.
Medsi could list as soon as autumn 2026, though a listing in spring 2027 is also possible if market conditions are unfavorable.
The timing and price will depend on market conditions and Medsi’s performance.
Alfa-Bank bought a 4.85% stake in Medsi from AFK Sistema as part of preparations for a planned public listing.
Sistema retains control of the medical group, with a 90.64% stake.
The financial terms were not disclosed, and analysts gave differing estimates of the deal’s value.
The transaction is described as part of a pre-IPO effort to attract anchor investors and prepare Medsi for a future listing.
Medsi’s listing could take place in autumn 2026 if market conditions are favorable, or possibly in spring 2027.
- Who
- Alfa-Bank bought the stake from AFK Sistema, which retains control of Medsi.
- What
- Alfa-Bank acquired 4.85% of Medsi’s shares.
- When
- Reported on October 13, 2026. The deal’s completion date is not stated.
- Where
- Medsi is a Russian medical group. The transaction’s location is not stated.
- Why
- Sistema said the investment is part of its strategy to prepare Medsi for a public listing. Alfa-Bank said the purchase fits its strategy of building a portfolio of prospective investments.
Dmitry Sergeev
Leonid Delitsyn
Estimated deal value
Dmitry Sergeev
Sergeev estimated the deal at 3.3–3.5 billion rubles.
Leonid Delitsyn
Delitsyn said the price could reach 6 billion rubles.
Discussions about a Medsi IPO began.
Vladimir Yevtushenkov said Medsi expected to go public within a year.
At the St. Petersburg International Economic Forum, Yevtushenkov said a listing could take place in autumn 2026 if market conditions were favorable, or in spring 2027.
Alfa-Bank’s purchase of a 4.85% stake in Medsi was reported.
- Alfa-Bank stake
- 4.85%
- Sistema stake
- 90.64%
- Reported deal terms
- Not disclosed
- Deal estimate by Dmitry Sergeev
- 3.3–3.5 billion rubles
- Possible deal price according to Leonid Delitsyn
- Up to 6 billion rubles
Sources
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