L1 Health

History

2016: Creation of L1 Health company and plans of LetterOne for investment of $3 billion

On June 6, 2016 the LetterOne holding announced plans to invest up to $3 billion in health care. For these purposes the new company which received the name L1 Health was created.

As it appears from the message of LetterOne, the task of purchase of "considerable shares" in the capital of the perspective medical companies is set for L1 Health to help them with development. In total in the market of health care it is going to invest $2-3 billion within three years.

LetterOne explained entry into the market, new to itself with the growing demand for consumption of services of health care in the world. According to data which were provided by the company in the press release, world expenses on health care will grow from 2014 to 2018 by 5.2%, and the share of costs for health care in the USA in 2018 will reach 18% of GDP.

Mikhail Friedman's LetterOne will invest up to $3 billion in health care

The health sector quickly develops that creates unique investment opportunities for  L1 Health — Mikhail Friedman who is one of co-owners of LetterOne noted.

Rapid growth of demand for  medical services  from the middle class which total number in  the next years will increase approximately by  a third should become one more incentive of development. Experts of LetterOne believe that  by  the end of 2018 in  the world there will be  about 570 million people with  an annual income  more than $25 thousand.

The holding also reported that Franz Humer, from 2008 to 2014 the heading Board of Directors of Roche Holding is appointed the first participant of the L1 Health advisory board. At the time of new appointment Humer directed Board of Directors of the British Diageo, one of the world's largest of the producer of alcoholic beverages (Johnnie Walker, White Horse, Baileys, Gordon's and other brands).

Building of global investment business will be the main objective of the new top manager, according to Friedman.^[1]

Notes