Africa Israel unit to build Moscow oncology centers

More than 500,000 new cases of cancer are diagnosed in Russia every year.

AFI Development plc (LSE:AFID), the Russian development arm of Africa-Israel Investments Ltd. (TASE:AFIL) is drawing up a plan to invest $100 million in the development of oncology centers in Moscow. The company announced the plan at the "Moscow Days in Israel" economic conference in Tel Aviv today.

Each year, more than 500,000 new cases of cancer are diagnosed in Russia, and the number is steadily increasing, due to late diagnosis, the lack of suitable medical devices, the lack of equipment, a shortage of doctors, and a shortage of clinics and oncology diagnosis centers.

"AFI Development began drawing up the plan to assess the potential of developing a business venture to build oncology centers in Moscow and its environs, where patients can receive treatment with state-of-the-art technology in line with the highest diagnostic and treatment standards found in foreign oncology medical institutions," said AFI Development executive director Mark Groysman.

"Execution of the project could result in a decision to invest $100 million in a business venture to build oncology centers, which has the support of the Moscow authorities. The project can be implemented with the collaboration of leading oncology clinics and experts in Israel, with whom we are already in initial contact," Groysman added.

Published by Globes [online], Israel business news - - on June 9, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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