Russian market for senior care is following the global trend and growing
In August 2018, Sberbank, the leading bank in Russia announced that it will make revolutionary change in senior care business in Russia. Sberbank is developing a special PPP (public private partnership) program with total investment of 500 BRUB (around 6.7 BEUR) to build 500 senior care houses in Russia till 2030. Changes will be also done in legislation and tax treatment of senior care business.
Companies and sectors benefiting from this opportunity
Russian senior care market is extremely interesting for Finnish companies for example in the following sectors:
- Operators of senior care houses
- Producers of products (equipment) involved with senior care
- Developers of IT solutions used in senior care
Solutions or products needed
- technologies, devices, facilities, equipment etc. for senior homes,
- technologies, devices, facilities etc. for home care and support of independent living,
- training programs for providers of senior care services (competence development),
Team Finland activities available for Finnish companies
To grab this opportunity and learn more about senior care business in Russia, participate in the second ”Russian AgeTech Conference” 09 April 2020 in St. Petersburg.
This conference is organized during the business program of XIV international Exhibition ”Older Generation” https://zabota.expoforum.ru/
Finnish companies are invited to participate as ”participants” and also as ”speakers” in the conference.
Event is free of charge, registration is required.
For further information, please contact
Alexei Kozlov, Senior Advisor Health
Finish-Russian Chamber of Commerce
tel./fax. +7 (812) 322 2121
Fin tel: + 358 9 424 50 831
alexei.kozlov (at) spb.svkk.ru
Read more about this opportunity
Russian market of senior care houses is growing a lot in Russia, around +20-30% per year and expected to boom in the nearest future, driven by revolutionary investment initiatives of Sberbank.
The life expectancy in Russia is on its historical maximum of 72 year, which increases the importance of senior case business. At the moment, 25% of the population in Russia are pensioners (36.7 million people).
In August 2018, Sberbank, the leading bank in Russia, announced to do a revolutionary change in the senior care business in Russia. Sberbank is developing a special PPP (public private partnership) program with total investments of 500 BRUB (around 6.7 BEUR) to build 500 senior care houses in Russia till 2030. Changes will be also done in legislation and tax treatment of senior care business.
In July 2017, Opeka (chain of senior care houses) announced to invest 3 BRUB (around 40 MEUR) into new senior care houses in Russia, built under PPP project. One senior care house will be built in Repino, close to St. Petersburg (Opeka has signed an agreement with city administration with obligation to invest 900 MRUB till 2021).
So the St. Petersburg’s market of private senior care houses is growing a lot. In 2012 there were only 25 private operators, in 2018 already 73.
In total there are around 2 mil people in Russia who need senior care housing, including 70.000 in St. Petersburg. One month living in senior care house, costs around 50-70.000 rub (670-930 eur).
It is expected, that the share of state funded social services devoted to private providers will increase from 10% in 2017 to 60% by 2020. This trend should further reinforce the development of private senior housing business in Russia.