RNS Number : 3264X
Georgia Healthcare Group PLC
05 May 2016
London, 5 May, 2016
GHG announces completion of the recently announced acquisition of one of the largest retail and
wholesale pharmacy chains in Georgia
Georgia Healthcare Group PLC ("GHG") announces that it has completed the acquisition of JSC
GPC ("GPC"), one of the largest retail and wholesale pharmacy chains in Georgia. The acquisition has now
completed following:
1. The receipt of regulatory approval. On 28 April 2016. This was a condition of the SPA (as defined
below) and
2. The completion under the Share Purchase Agreement to acquire a 100% equity stake in GPC (the
"SPA"). The SPA was signed following GHG's announcement on 16 March, 2016, of the signing of a binding
Memorandum of Understanding ("MOU") subject to the relevant regulatory approvals, to acquire a 100%
equity stake in GPC. The key terms and conditions of the MOU are unchanged in the SPA.
"Following our recent announcement of the GPC acquisition, I am very pleased to announce completion of this
important strategic transaction, which has received very strong support from our shareholders. Having successfully obtained
regulatory approval, GPC is now the part of GHG operations and we look forward to delivering the expected synergies, margin
enhancement and growth of the business." commented Nikoloz
Gamkrelidze, CEO of Georgia Healthcare Group.
About Georgia Healthcare Group PLC
Georgia Healthcare Group PLC is a UK incorporated holding company of the largest healthcare
services provider in the fast-growing, predominantly privately-owned, Georgian healthcare services market. GHG's leadership
position is underpinned by offering the most comprehensive range of inpatient and outpatient services targeting the mass market
segment through its vertically integrated network of 35 hospitals and ten ambulatory clinics, as at 31 December 2015. GHG is the
single largest market participant, accounting for 26.6% of total hospital bed capacity in the country as of 31 December 2015. GHG
is also the largest provider of medical insurance in Georgia with a 38.4% market share based on net insurance premiums earned and
approximately 234,000 insurance customers as at 31 December 2015. GHG employed a total of c.9,700 people as at 31 December 2015,
including 2,705 physicians
For further information, please visit www.ghg.com.ge or contact:
Nikoloz Gamkrelidze
|
David Vakhtangishvili
|
Ekaterina (Eka) Shavgulidze
|
CEO
|
CFO
|
Head of Investor Relations
|
+995 322 550505 (5077)
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+995 322 550505 (4810)
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+995 322 444 205
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ngamkrelidze@ghg.com.ge
|
dvakhtangishvili@ghg.com.ge
|
ir@ghg.com.ge
|
This news report is presented for general informational purposes only and should not be
construed as an offer to sell or the solicitation of an offer to buy any securities
This information is provided by RNS
The company news service from the London Stock Exchange
END
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