Business news from Ukraine

Business news from Ukraine

Largest private clinics in Ukraine count on the recovery of health insurance sector

The largest private clinics in Ukraine expect that the health insurance sector will recover, despite its significant decline due to the war, have restructured their work with insurance companies.

According to the assessment of the medical group of companies (MGC) “Adonis”, the volume of the health insurance market by the equation with 2021 decreased by 30-40%.

“In 2022, Adonis MGC has been loyal to working with insurance companies. We met our obligations and agreements that existed at the time of the full-scale invasion on February 24, 2022. This allowed the insurance companies to meet the terms of the corporate insurance programs,” said Adonis.

Adonis notes, however, that there have been delays in payments for medical services performed since the war began, but the IGC “allowed insurance companies to accept insureds at our medical centers and this allowed the situation to even out.”

“Since February 2022, both Adonis Medical Group Company (MGC) and the insurance companies have restructured their operations and adapted to the circumstances. All insurance companies have found a way to settle with us for prior periods. Many companies have established a process of settlement and payment in a very clear and timely manner. This gives hope that together we will be able to increase the number of insured patients and help even more Ukrainians”, – stressed in “Adonis”.

The MGC noted that “some insurance companies have left the market, but “Providna”, UNIKA, “Ukrainian Group”, ARCS, “Kraina”, “Universalna”, “SOS Service”, the European Insurance Union, UCO, INGO work stably and coherently”.

In turn, the director of corporate sales of the medical network “Dobrobut” Dmitry Grossoo also noted that the share of insurance patients in total sales of “Dobrobut” before the war in 2022 was 25%, while in 2021 – 20%.

“The share of corporate customers in 2022 is up 25% over 2021. This is because the ‘subscription’ format for services has proven to be more sustainable than one-time referrals,” he said.

Gross said that in 2022 corporate insurance programs, about 20% of customers did not renew insurance for a variety of reasons, but “there were customers who were first-time insured who thought it was very important today.”

Commenting on delays in payments under corporate clients’ health insurance programs, the expert noted that “nurse partners have shown themselves to be at their best when it comes to financial discipline during a difficult period for everyone.”

“Our corporate clients have no problem debts to Dobrobut Medical Network,” he said.

Commenting on the prospects for the post-war recovery of the corporate health insurance sector, Grossoo stressed that the development of this sector in Ukraine because of the war continues.

“This is confirmed by the constant, albeit small, dynamics. Difficult times give rise to strong decisions, which become the foundation for growth,” he stressed.

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Swiss building materials manufacturer Holcim buys U.S. roofing systems manufacturer for $1.3 billion

Swiss construction materials manufacturer Holcim is buying US roofing systems supplier Duro-Last for $1.293 billion.
According to a Holcim press release, the acquisition of Duro-Last will complement and strengthen the Swiss company’s operations in the roofing materials industry. The expected synergistic effect of the deal is $60 million per year.
The purchase of Duro-Last will bring Holcim’s roofing business annual sales above the $4 billion mark faster than previously expected.
Duro-Last is the market leader in commercial roofing systems in the U.S., with annual sales of about $540 million, Holcim noted.
The deal requires U.S. regulatory approval, and the parties plan to close by the second quarter of 2023.

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Large Ukrainian tour operator entered European market

Ukrainian tour operator Join UP! has entered the markets of Estonia, Latvia, Lithuania, Kazakhstan, Poland and Romania in 2022 amid war and a sharp decline in demand in Ukraine for its services, the company said in a statement Friday.
“Entering the new markets allowed us to retain a team in Ukraine. We also believe that our work in foreign markets will build confidence in Ukrainian travel brands, and after the war we will be able to significantly increase the flow of inbound tourism, which will have a positive impact on the country’s economy,” regional director of Join UP! Anton Savchenko said in the release.
As for Ukraine, the tour operator pointed out that the incomplete two pre-war months of last year accounted for 41% of total travel in 2022.
According to the release of the company, July, August and September were the busiest months of the military last year, but if you compare with similar months of last year, the total number of tours in these months fell by almost a third – to 48.6 thousand from 140.6 thousand.
In addition, as shown in the materials, the situation in the country has significantly affected the portrait of Ukrainian travelers in 2022: the number of women who traveled during the year was 4-5 times more than men. At the same time the tours are now booked more often for one person, and 77% of all travels are exclusively for adults.
In Join UP! also said that the average travel check of Ukrainians in 2022 increased by 23% compared to 2021, due to complicated logistics and rising costs of tourist services in the resort countries.
The company also said it offers transfers to Chisinau and Poland’s Rzeszow with departures to popular destinations.
“Now it is the capital of Moldova remains the most popular departure point for tourists traveling from Join UP. Since the beginning of the flights almost 51 thousand travelers traveled from there. However, the popularity of Rzeszów is also growing,” said Join UP!

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Earthquakes destroy some historical sites in Turkey and Syria

A powerful earthquake in Turkey and Syria has severely damaged the Gaziantep fortress, a UNESCO World Heritage Site, as well as many archaeological sites in these countries, local media reported Monday.
Several bastions in the eastern, southern and southeastern parts of the fortress, located in the Turkish province of Gaziantep, were completely destroyed by the earthquake, in the walls of the other bastions were large cracks. The dome and the eastern wall of the mosque, built in the 17th century and located next to the fortress, also collapsed partially.
Fortifications on the site of the fortress first appeared in the Hittite period (1800 1180 BC). Then the fortifications were reconstructed in the II-III centuries AD under the Roman Empire and in the VI century AD under the Byzantine Empire.
In Syria, the citadel of Aleppo, a UNESCO World Heritage site, was damaged in an earthquake. The oldest fortifications of the citadel were built in the 10th century, and it was an important stronghold during the Crusades. In the 13th century the citadel developed into a rich town. Subsequently, the fortress was attacked by the Mongols in 1259 and in 1400 by the conqueror Tamerlane. In 1516 it was taken by the forces of the Ottoman Empire, and since then the military role of the citadel was diminishing.
Cracks also appeared in the walls of the National Museum of Aleppo. Many historic buildings in Aleppo and Hama provinces were damaged.
A powerful earthquake in Turkey and Syria and the aftershocks that followed caused numerous buildings to collapse in several provinces, and earth tremors felt in Lebanon, Jordan and Israel.

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256.4 million UAH allocated for construction of Podillya bridge crossing

The Kiev City Council has approved changes to the Program of Social and Economic Development of Kiev in 2021-2023, directing the balance of unused subventions from the state budget in the amount of 256,4 million UAH for building Podolsky Bridge across the Dnieper.
According to the press service of the Kyiv City Council, the corresponding decision at the meeting on February 9 was supported by 75 deputies.
According to the message, unused means of subvention were intended for maintenance and development of highways.
In addition, 23.1 mln UAH of unused subvention for social and economic development of certain territories were aimed at capital construction and repair of infrastructure objects of the capital, including 5.4 mln UAH for reconstruction of the stadium of special school № 10.
Also 17.7 million UAH were sent for capital repairs: 5.2 million UAH for the square near the theater named after Ivan Franko, 6.9 million UAH and 3.7 million UAH for repairs of two kindergartens and one school in Darnitsky district, 1.9 million UAH for the repair of schools in Solomensky district of the capital.

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Hong Kong has cancelled requirement for vaccination certificates for tourists

Hong Kong authorities have decided to cancel the requirement for a coronavirus vaccination certificate for those arriving in the region, PCR tests are still required, according to the press service of China’s special district government.
“As of Feb. 6, the requirement for full vaccination for nonresidents of Hong Kong arriving from abroad is removed. Travelers do not need to be vaccinated and present a certificate of vaccination upon arrival in Hong Kong. Mandatory testing for coronavirus for those arriving from abroad remains in place,” the report said.
According to the government, the epidemic situation in Hong Kong remains stable despite an increase in the number of visitors.

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