Georgia Healthcare Group PLC GHG announces completion of the acquisition of ABC (5193T)

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RNS Number : 5193T

Georgia Healthcare Group PLC

06 January 2017

London, 6 January 2017

GHG announces completion of the recently announced acquisition of ABC Pharmacy

Georgia Healthcare Group PLC ("GHG") announces that, following the receipt of regulatory approval, it has now completed the acquisition of JSC ABC Pharmacia ("ABC"), the fourth largest pharmaceutical retailer and wholesaler in Georgia.

"Following our recent announcement of the ABC acquisition, I am very pleased to announce completion of this landmark transaction. Having successfully obtained regulatory approval, ABC will be merged with GHG's existing pharma business with immediate effect. This further consolidates GHG's position as the leading integrated player in the Georgian healthcare ecosystem, and we look forward to delivering on the expected synergies and targeted growth strategy for the enhanced pharma business" commented Nikoloz Gamkrelidze, CEO of Georgia Healthcare Group.

Name of authorised official of issuer responsible for making notification:

Ekaterina Shavgulidze, Head of Investor Relations

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 eight ambulatory clusters (consisting of 11 district ambulatory clinics and 28 express ambulatory clinics), as at 30 September 2016. GHG is the single largest market participant, accounting for 23.0% of total hospital bed capacity in the country, as of 30 September 2016. GHG is the third largest pharmaceuticals retailer and wholesaler in Georgia, approximately 15% market share by revenue, as of 31 December 2015. GHG is also the largest provider of medical insurance in Georgia with a 35% market share based on net insurance premiums earned and approximately 208,000 insurance customers as at 30 September 2016. GHG employed a total of c.12,500 people as at 30 September 2016, including 3,140 physicians and 730 pharmacists.

For further information, please visit www.ghg.com.ge or contact:

 
      Nikoloz Gamkrelidze            David Vakhtangishvili                  Ekaterina (Eka) 
                                                                             Shavgulidze 
      CEO                            CFO                                    Head of Investor 
                                                                             Relations 
      [phone]                    [phone]                       [phone] 
       (5077)                             (4810)                                205 
      [e-mail]            [e-mail]            [e-mail] 
 

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

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January 06, 2017 02:00 ET (07:00 GMT)